FINANCIAL NEWS

Qatar Navigation posts 8.5% rise in Q1 profit

02 May 2012

(MENAFN) Qatar Navigation’s (Milaha) Chairman and Managing Director, Sheikh Ali bin Jassim Al Thani, announced that first-quarter net profit rose 8.5 percent from 2011’s same period, reported The Peninsula.

The chairman added that profit during the period reached USD77.96 million, whereas consolidated operating revenue reached USD175.70 million.

He also said that the maritime & logistics segment recorded better results when compared to a year earlier, whereas other segments, including offshore and gas & petrochemical recorded reductions.

It is worth noting that Milaha’s port services, container shipping and shipyard units, all within the maritime & logistics division, showed better results compared with the previous year.

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