Doha: Qatar Navigation Q.P.S.C. (Milaha), announced yesterday its financial results for the six months ended June 30, 2024.
Milaha Maritime & Logistics’ net profit decreased by QR33m as higher project income from our shipyard was more than offset by general volume and rate pressure across the segment.
Milaha Gas & Petrochem’s net profit increased by QR32m, largely driven by the increase in profit from our associate companies.
Milaha Offshore’s net profit decreased by QR25m compared to H1 2023 primarily due to both planned and unplanned vessel maintenance which negatively impacted revenues, and the non-recurrence of favorable accounting adjustments recorded in 2023.
Milaha Capital’s net profit increased by QR15m, led by increased income from our financial investments unit.
Milaha Trading’s bottom line decreased by QR10m due to lower sales and increased overhead costs.
The company will conduct an investor conference call today, August 14 at 2:00pm Doha time, to further discuss its results.
The conference call may be accessed by telephone by dialing 00 800 101 734 and entering the Conference ID: 9547257.
