Milaha’s Net Profit Increases 11% To QAR 297 Million For H12018

Qatar Navigation (Milaha) Q.P.S.C. today announced its financial results for the six months ended June 30, 2018.

Key financial highlights:

1. Operating revenues ofQAR 1.25billion for the six months ended June 30, 2018, up from QAR 1.15 billion for the same period in 2017
2. Operating profit of QAR 258 million for the six months ended June 30, 2018, up from QAR 170million for the same period in 2017
3. Net profit of QAR 297 million for the six months ended June 30, 2018, up from QAR 267million for the same period in 2017
4. Earnings per share increased to QAR 2.62for the six months ended June 30, 2018, up from QAR 2.35 for the same period in 2017

tanker sunset
Image for Representation Purpose only – Photograph by Sergio Ferrazzano

Milaha Maritime &Logistics’revenue increased by QAR 82 million and net profit by QAR 36 million,on the back of higher volumes at Hamad Port and new shipping routes in our Container Shipping unit.

Milaha Gas & Petrochem’soperating profit increased by QAR 5 million; however,vessel impairments drove overall net profit lower by QAR 145 million.

Milaha Offshore’sbottom line increased by QAR 9 milliondue toincrease in vessel utilization rates and overall improvement in the offshore sector.

Milaha Capital’sprofits increased by QAR 138 million largely due to improved returns from the financial investments portfolio.

Milaha Trading’snet profitdeclined by QAR 9 million as a result of lower heavy equipment sales.

The company will conduct an investor conference call on Thursday, August 2 at 14:00 hrs Doha time, to further discuss its results. The conference call may be accessed by telephone by dialing Qatar toll free 00 800 100 443and entering Conference ID: 9796271. Further information can be found on our website

Press Release: Milaha

Disclaimer :
The information contained in this website is for general information purposes only. While we endeavour to keep the information up to date and correct, we make no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability or availability with respect to the website or the information, products, services, or related graphics contained on the website for any purpose. Any reliance you place on such information is therefore strictly at your own risk.

In no event will we be liable for any loss or damage including without limitation, indirect or consequential loss or damage, or any loss or damage whatsoever arising from loss of data or profits arising out of, or in connection with, the use of this website.

Do you have info to share with us ? Suggest a correction

Latest Shipping News You Would Like:

Get the Latest Maritime News Delivered to Your Inbox!

Our free, fast, and fun newsletter on the global maritime industry, delivered everyday.

Leave a Reply

Your email address will not be published. Required fields are marked *