Doha, Qatar -- Qatar Navigation (Milaha) Q.P.S.C. today announced its financial results for the six months ended June 30, 2018.
Key financial highlights:
- Operating revenues of QAR 1.25 billion for the six months ended June 30, 2018, up from QAR 1.15 billion for the same period in 2017
- Operating profit of QAR 258 million for the six months ended June 30, 2018, up from QAR 170 million for the same period in 2017
- Net profit of QAR 297 million for the six months ended June 30, 2018, up from QAR 267 million for the same period in 2017
- Earnings per share increased to QAR 2.62 for the six months ended June 30, 2018, up from QAR 2.35 for the same period in 2017
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’s operating profit increased by QAR 5 million; however, vessel impairments drove overall net profit lower by QAR 145 million.
Milaha Offshore’s bottom line increased by QAR 9 million due to increase in vessel utilization rates and overall improvement in the offshore sector.
Milaha Capital’s profits increased by QAR 138 million largely due to improved returns from the financial investments portfolio.
Milaha Trading’s net profit declined 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 00 800 100 443 and entering Conference ID: 9796271. Further information can be found on our website www.milaha.com.
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About Milaha
The company was established in July 1957 as the first public shareholding company registered in Qatar and holds commercial registration no. 1. Milaha’s current activities include marine transportation in gas, petroleum products, containers and bulk; offshore support services; port management and operations; logistics services; shipyard; trading agencies; real estate investments; and asset management.
The legal entity, Qatar Navigation Q.P.S.C. (QNNS), is publicly listed on the Qatar Exchange. For further details please visit the company’s website www.milaha.com.
For additional information, please contact:
Shareholder Relations
Tel: +974 4494 9873; Fax: +974 4483 3244
Email: ysakhawy@milaha.com
Corporate Communications
Tel: +974 4494 9624; Fax: +974 4483 3244
Email: maljehani@milaha.com
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