Nakilat posts higher profit in Q4

Qatar’s Nakilat, the world’s largest LNG shipper, posted a net profit of 226 million riyals (US$62m) for the fourth quarter of 2015, an increase of 12.1% as compared to 2014.

Nakilat’s net profit of 984 million riyals in 2015 rose 10 percent as compared to the year before, the LNG shipping company said in a statement on Thursday.

“Nakilat’s operations have achieved a higher profitability level by growing business streams through the addition of three new LNG vessels to Nakilat’s LNG fleet during 2015, full operation of vessels acquired during 2014, optimization of operating expenses and leveraging lower finance costs,” the statement said.

Nakilat also said its Board recommended paying a cash dividend to the shareholders equal to 12.5% of the nominal value of its capital, which is equivalent to 1.25 riyals per share.

The company added it will exploit future opportunities to acquire new business opportunities, serving the international marine sector, and to increase the utilization rate for the shipyard facilities at Erhama Bin Jaber Al Jalahma shipyard.

1 Qatar riyal = 0.274548 U.S. dollars

LNG World News Staff