Milaha’s profit edges up in first quarter of 2019

Doha-based Qatar Navigation (Milaha) reported an increase in net profit for the first three months of the year. 

Net profit for the period under review reached 278 million Qatari Riyals ($76.4 million) which compares to 260 Qatari Riyals in the first three months of 2018, Milaha reported.

Operating revenues for the period reached 708 million Qatari Riyals, up from 698 million Qatari Riyals for the same period in 2018.

Milaha Gas & Petrochem’s revenue increased by 3 million Qatari Riyals and net profit by 50 million Qatari Riyals, aided by improvement in market rates and growth in some of the sectors the company operates in.

Milaha Gas & Petrochem owns two LNG carriers and also holds partial stakes in seven LNG carriers. It is also the largest shareholder in Qatari LNG shipping giant Nakilat.