Jul 25 2011 |
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Qatar Navigation operating revenues touches QR1.1bn
DOHA: Qatar Navigation yesterday announced the financial results for the first half of 2011.Operating revenues of the company were QR1.1bn as against QR1bn in the corresponding period last year, the company said in a statement.
Operating profit was QR300m while the figure in H1 of 2010 was QR299m. Net profit was QR418m whereas earnings per share were QR3.65. In the corresponding period in 2010 net profit was QR952m and EPS was QR8.32 per share. Year over year comparison of Net Profit is skewed due to one-time, non-cash accounting adjustments in 2010 related to the Qatar Shipping Company acquisition.
Khalifa bin Ali Al Hetmi, Qatar Navigation 's President and CEO, stated that the implementation of several internal initiatives is well underway, with the aim of streamlining and optimizing operations.
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