(Milaha) net profits increased by eleven per cent during the first half of the
current calendar year 2018. The shipping company has announced its financial
results for the six months that ended on June 30.
Key financial highlights of the company include:
Operating revenues of QAR 1.25billion 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 170million for the same period in 2017
Net profit of QAR 297 million for the six months ended June
30, 2018, up from QAR 267million for the same period in 2017
Earnings per share increased to QAR 2.62for 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’soperating
profit increased by QAR 5 million; however,vessel impairments drove overall net
profit lower by QAR 145 million.
Milaha Offshore’sbottom line increased by
QAR 9 milliondue toincrease in vessel utilization rates and overall improvement
in the offshore sector.
increased by QAR 138 million largely due to improved returns from the financial
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
Milaha Trading’snet profitdeclined 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 443and
entering Conference ID: 9796271. Further information can be found on our