DOHA: Qatar Navigation’s (Milaha) operating revenues touched QR1.8bn for the financial period ended September 2018, up from QR1.7bn recorded for the same period in 2017. Milaha’s operating profit rose to QR314m during the period, compared to QR200m posted from a year ago.
Net profit stood at QR400m, up from QR363m and earnings per share increased to QR3.52, compared to QR3.19 for the same period in 2017.
Milaha Maritime & Logistics’ operating revenue increased by QR21m, while net profit declined by QR55m, mainly due to QR43m in vessel impairments taken in our container shipping unit in the third quarter.
Milaha Gas & Petrochem’s operating revenue remained flat with the same period last year while net profit declined by QR135m mainly due to vessel impairments recorded during the first half of 2018.
Milaha Offshore’s operating revenue increased by QR32m due to increase in vessel utilization, while the bottom line increased by QR67m due to a decline in impairment charges in 2018 versus the same period last year.
Milaha Capital’s net profit increased by QR168m due to higher dividend income and higher financial portfolio trading returns.
The company will conduct an investor conference call on Monday, November 5th, 2018 at 2 pm Doha time, to further discuss its results.
