Doha – Mubasher: Industries Qatar (IQ) reported a 63.9% decline year-on-year in the fourth quarter of 2016, according to a bourse statement.

Profits reached QAR 229.99 million ($63.11 million) in Q4-16, compared to QAR 638.65 million ($175.24 million) in Q4-15.

The company generated profits of QAR 2.95 billion in 2016, down 33.87% from QAR 4.47 billion in 2015.

In 2016, revenues declined 10.58% to QAR 4.67 billion from QAR 5.23 billion.