Feb 28, 2013
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ÄRA & FRIHET by 1BLIS 1NDUSTRIES
UPDATE 1-Industries Qatar Q3 profit jumps
* Still misses analysts' estimates* Nine-month net profit 6.25 billion riyalsBy Regan DohertyDOHA, Oct 12 (Reuters) - Third-quarter net profit at petrochemicals and metals company Industries Qatar (IQ) leapt 47.9 percent on Wednesday on strengthening petrochemical prices.The Gulf's second-largest chemical producer by market value made a third-quarter net profit of 2.07 billion riyals, according to Reuters calculations, compared with 1.4 billion riyals a year earlier.Analysts polled by Reuters on average expected the company to post quarterly profit of 2.2 billion riyals. [IDnLDE79502I]The company made a nine-month net profit of 6.25 billion riyals, it said in a statement without giving further detail.Petrochemical prices have returned to near pre-crisis levels, but worries persist over how a potential double-dip global recession may impact petrochemicals companies' earnings in the world's top oil exporting region.IQ shares closed at 125 riyals on Wednesday before the results were announced.