FINANCIAL NEWS

Qatar’s Milaha net profit hits USD225.25m in 9M

01 Nov 2014

(MENAFN) Qatar Navigation (Milaha) recorded a net profit of USD 225.25 million in the January-September period, up 5.5 percent compared to USD 213.45 million a year ago, The Peninsula Qatar reported.

Meanwhile, Milaha’s operating revenues surged by 13.1 percent in the nine-month period, hitting USD540.50 billion and earnings per share increased to USD1.98 from USD1.87.

After relatively disappointing first half results, Milaha recovered strongly in the third quarter to profit growth. The recovery was driven by strong growth in trade volumes and a rebound in the equities market.

“We are pleased to have got back on track after a somewhat disappointing first half,” said Sheikh Ali bin Jassim Al Thani, Chairman and Managing Director of Milaha.

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