Navigation (Milaha) Q.P.S.C. today announced its financial results for the three
months ended March 31, 2018.
Key financial highlights:
Operating revenues ofQAR 698 million for the
three months ended March 31, 2018, upfrom QR 648 million for
the same period in 2017
Operating profit of QAR 203 million for the
three months ended March 31, 2018, upfrom QAR 185 million for the same period
Net profit of QAR 260 million for the three
months ended March 31, 2018, upfrom QAR 236 million for the same period in 2017
Earnings per share increased to QAR 2.29 for
the three months ended March 31, 2018, up from QAR 2.08 for the same period in 2017
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.
& Petrochem’srevenue 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.
Offshore’srevenue decreased by QAR 29 million
and bottom line by QAR 13 million.
Capital’srevenue increased by QAR 45 million
and net profit by QAR 65 millionwith higher dividend income from our equity
portfolios driving most of the growth.
Milaha Trading’srevenue increased by QAR 12 million and net profit decreased
by QAR 3 million due to decreased margins on equipment and bunker sales.
The company will conduct an investor conference
call on Thursday, May 3 at 2:00pm Doha time, to further discuss its
results. The conference call may be accessed by telephone by dialing 00 8000 100 443and entering the Conference ID: 6756765. Further information can
be found on our website www.milaha.com.
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.