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Qatar Navigation reports 17% climb in 2012 profit

15 Mar 2013

(MENAFN) Qatar Navigation Company’s (Milaha) Chairman and Managing Director, Sheikh Ali bin Jassim Al Thani, stated that the company’s net profit jumped by 17 percent in 2012 from a year before to USD229.17 million, reported The Peninsula.

Sheikh Ali added that net profit of the firm’s Maritime & Logistics unit enhanced on annual basis, due to higher port services and container feeder transport activities.

Furthermore, Milaha’s Gas & Petrochem segment’s net profit rose by 5 percent from a year before as a result of a one-time income linked to an increased stake in two LNG carriers.

However, net profit for the company’s offshore business dived 26 percent.

It is worth noting that Milaha was founded in 1957, and was the first public shareholding firm registered in Qatar.

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