DOHA: Qatar Gas Transport Company (Nakilat) today reported 10 percent growth in its net profit to QR490.2m ($134.6m) for the first half period ended June 30, 2015 compared to the corresponding period in 2014.
The shipping wing of Qatar's liquefied natural gas (LNG) producing sector attributed the "healthy financial results" to "Nakilat's strategic development, success of joint ventures, and resilience in challenging economic climate".
The Board of Directors stated that Nakilat is in an excellent position to face the current economic situation, as the company's ships are on long-term charter hire contracts that are not impacted by temporary fluctuations in oil prices.
Nakilat Managing Director Abdullah Al Sulaiti said: "Nakilat's strong performance shows the success of our medium to long-term strategies. We continue to maintain prudent levels of growth, lowered our operating costs and our financing costs are decreasing as we have repaid a suitable amount of our loans."
The launch of new vessel in the second quarter plus five more ships fully operating helped increase profits from joint ventures, he added.
The Peninsula
