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Milaha’s net profit hits USD178.57m in H1

28 Jul 2015

(MENAFN) Qatar Navigation (Milahad) announced logging a net profit of USD178.57 million in the first six months of the year, up 26 percent from the year-ago period, The Peninsula Qatar reported.

Meanwhile, operating revenues increased 22 percent to USD414.2 million in the January-June period, increasing from USD340.14 million on-year. Operating profits rose 31 percent to USD121.24 million.

Milaha’s Maritime & Logistics’ revenue expanded by 27 percent, while net profit increased 119 percent, attributed mainly to the company’s port and container shipping business.

Offshore revenue grew by 41 percent and net profit expanded by 151 percent despite weak market conditions driven by the steep decline in oil prices and the cutbacks on capital spending.

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