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FINANCIAL NEWS
Qatar Navigation signs USD213.5 m net profit in Q3
30 Oct 2013
(MENAFN) Qatar Navigation Company (Milaha) recorded a net profit of USD213.5 million in its third quarter, up 22 percent compared to USD174.9 million reported for the same period last year, The Peninsula Qatar reported.
The company’s earnings per share (EPS) hit a total of USD1.86 for the third quarter versus USD1.52 for the corresponding period last year.
The operating revenues dropped to USD463 million from USD466 million reported for the same period in 2012, a decrease of 0.2 percent year-over-year.
Milaha’s Maritime & Logistics segment net profit improved 13 percent during the third quarter of 2013 in comparison to the same period in 2012, driven mainly by port services and container transport operations. In addition, gains from the sale of under-performing assets throughout 2013 helped drive bottom line growth.
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