Qatar Navigation earnings reach $152m in Q1

27 Apr 2010

(MENAFN) The Chairman of Qatar Navigation announced that the company has earned $152.4 million in consolidated net profits for the three month period ended March 31, 2010, Gulf Times reported.

He said in a statement that the profits include $64.8 million fair value gains realized through acquisition of the 15 percent of Qatar Shipping Company WLL shares.

Post acquisition earnings per share plunged to $1.3 per share after the capital increased up to 114,525,200 numbers of ordinary shares which is equivalent to $314 million.

The chairman disclosed the transactions took place with full transparency in the consolidation of Qatar Shipping Company WLL to all shareholders.

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