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Gulf International Services profit drops 32pc

DUBAI, October 26, 2015

Qatar's Gulf International Services reported a 32 percent fall in third-quarter net profit on Monday, according to Reuters calculations.

The firm, a provider of oil and gas drilling rigs, made a profit of QR216.9 million ($59.6 million) in the three months to September 30, Reuters calculated based on previous statements as the company did not provide a quarterly breakdown.

That was down from QR317.6 million in the corresponding period of 2014.

QNB Financial Services had forecast Gulf International Services would make a quarterly profit of QR208.7 million.

In the first nine months of 2015, Gulf International Services made a net profit of QR822.3 million, compared to QR1.04 billion a year earlier, according to the bourse statement. - Reuters




Tags: Qatar | oil and gas | GIS |

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