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FINANCIAL NEWS
Qatar Navigation net profit up 5.5 percent in 9M
30 Oct 2014
(MENAFN) Qatar Navigation (Milaha) reported it has recorded a net profit of USD225.26 million for the January-September period of 20, an increase by 5.5 percent compared to USD213.47 million registered during the corresponding period a year ago, The Peninsula Qatar reported.
During the first nine months of this year, Milaha registered an increase in its operating revenues by 13.1 percent to USD540.54 million.
The recovery during the third quarter of this year, which happened after a disappointing first half , is attributed to strong growth in trade volumes and a rebound in the equities market.
Meanwhile, Milaha’s core maritime segments, offshore, maritime and logistics, gas and petrochem, improved slightly during the first nine months of this year compared to the same period last year due to a higher net profit in the gas and petrochem segment, which benefited from stronger VLGC rates and higher profits from Milaha’s stake in Qatar Gas Transport Co (Nakilat).
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