FINANCIAL NEWS

Qatari Milaha posts QR267mn revenue in H1

02 Aug 2017

(MENAFN) Qatar Navigation (Milaha) has recorded revenue of QR267mn for the Jan-June period of this year, against QR553mn for the same period of last year.

Additionally, earnings per share were QR2.35 for the cited period of the year, compared to QR4.86 for the same period of 2016.

However, Milaha Gas & Petrochem’s revenue dropped by QR96mn driven by depressed rates and vessel oversupply that impacted most of the tanker and gas carrier sectors.

Moreover, Milaha Offshore’s net profit also fell by QR30mn, driven by global vessel oversupply which in turn has continued to depress charter rates and utilization.

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