Milaha Profit Rises in Q1
Qatar-based maritime transport and logistics company Qatar Navigation (Milaha) reported an increase in net profit for the first three months of the year.Net profit for the period under review reached 278 million Qatari Riyals ($76.4 million) which compares to 260 Qatari Riyals in the first three months of 2018, Milaha reported.The operating revenues of QAR 708 million for the three months ended March 31, 2019, up from QR 698 million for the same period in 2018 and the operating profit of QAR 214 million for the three months ended March 31, 2019, up from QAR 203 million for the same period in 2018.Milaha Maritime & Logistics’ revenue decreased by QAR 24 million and net profit by QAR 12 million…
Milaha Reports 10% Increase in Net Profit
Qatar Navigation (Milaha) Q.P.S.C. has announced its financial results for the nine months ended September 30, 2018. Key financial highlights:•Operating revenues of QAR 1.8 billion ($494 mln) for the nine months ended September 30, 2018, compared to QAR 1.7 billion ($466 mln) for the same period in 2017•Operating profit of QAR 314 million ($86 mln) for the nine months ended September 30, 2018, compared to QAR 200 million ($54 mln) for the same period in 2017•Net profit of QAR 400 million ($109 mln) for the nine months ended September 30, 2018, compared to QAR 363 million ($99 mln) for the same period in 2017•Earnings per share of QAR 3.52 for the nine months ended September 30…
Milaha Reports Improved H1 Profits
Shipping conglomerate Qatar Navigation (Milaha) Q.P.S.C. announced its financial results for the six months ended June 30, 2018, reporting 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.The company’s operating profit for the period also rose to QAR 258 million, up from QAR 170 million for last year’s same period. A net profit of QAR 297 million beat last year’s QAR 267 million, while earnings per share increased to QAR 2.62…
Milaha Reports Net Profit of $71.3M
Qatar Navigation (Milaha), a leading maritime and logistics conglomerate, has reported a net profit of QR260 million ($71.3 million) for the first quarter of 2018, up from QR236 million ($64.80 million) for the same period in 2017. Milaha Maritime & Logistics’ revenue increased by QAR 65 million and net profit by QAR 29 million as a result of volume growth in our Ports business, and better operating margins in our Container Shipping unit. Milaha Gas & Petrochem’s revenue decreased by QAR 5 million and net profit by QAR 54 million. Low shipping rates and the knock-on effect on vessel valuations in the sectors we operate continue to put a damper on profits. Milaha Offshore’s revenue decreased by QAR 29 million and bottom line by QAR 13 million.
Milaha Reports USD 129 mln Net Profit for 2017
Qatar Navigation (Milaha) reported a net profit of QAR 470 million (USD 129 mln) for the twelve months ended December 31, 2017. Operating revenues decreased by 2% to QAR 2.491 billion for the twelve months ended December 31, 2017, down from QAR 2.551 billion for the same period in 2016. Operating profit decreased by 19% to QAR 448 million for the twelve months ended December 31, 2017, down from QAR 555 million for the same period in 2016. Earnings per share decreased to QAR 4.14 for the twelve months ended December 31, 2017, down from QAR 6.26 for the same period in 2016. Milaha Maritime & Logistics’ net profit declined by QAR 23 million in 2017 compared to 2016, mainly due to QAR 33 million in vessel impairments in our Container Shipping unit.
Milaha Reports Improved Net Profit for Q1
Qatar Navigation (Milaha) Q.S.C. has announced its financial results for the three months ended March 31, 2015, in which it reported operating revenues of QR 786 million vs. QR 699 million for the same period in 2014, an increase of 12% quarter over quarter. Operating profit of QR 279 million vs. QR 273 million for the same period in 2014, an increase of 2% quarter over quarter, net profit of QR 365 million vs. QR 349 million for the same period in 2014, an increase of 4% quarter over quarter, and earnings per share of QR 3.21 vs. QR 3.08 for the same period in 2014.
Milaha Reports 32.8% Q4 Net Profit Increase
Qatar Navigation (Milaha) Q.S.C. increased fourth quarter net profit 32.8 percent, the company announced today in its 2014 financial results. It will pay a 55% cash dividend for 2014, a value of 5.5 Qatari Rials ($1.51) per share. The company said it increased its net profit 10% in 2014 over 2013, from QR950 million ($260 million) to QR1.059 billion ($290 million). The Gas & Petrochem segment had an extremely strong year relative to 2013, as VLGC market rates hit record highs, and product tankers profits benefited from higher freight rates.
Qatar Shipping Secures Ship Financing
Proceeds from the facility will be utilized by Qatar Shipping to fund the ongoing construction of 19 harbor assistance vessels. The vessels will be deployed in Mesaieed Port on a 20-year, QR1.8bn contract, signed with Qatar Petroleum in 2011. The financing was arranged by Milaha Capital, another wholly-owned Milaha subsidiary, which provides corporate finance advisory services to the group as part of its mandate. The financing agreement was signed by Milaha's President & CEO Khalifa bin Ali Al-Hetmi and Mr. Abdulla Mubarak Al Khalifa, General Manager Corporate Banking from QNB Group. Also in attendance were senior executives from Milaha, its subsidiaries and QNB. Speaking on the occasion, Mr.
