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Milaha Net Profit in Q1, 2017 Drop to QR 236 Million
Earnings per share stood at QR 2.08
April 25, 2017
Net profit for
Qatar Navigation (Milaha) in
the first quarter 2017 reached QR 236 million compared to
QR 352 million in the corresponding period last year. Earnings
per share stood at QR 2.08 versus QR 3.10 in the corresponding
period in 2016.
The Group Securities Comment:
Milaha operating income for the first quarter decreased by 15.6%
to QR 648 million while expenses decreased by 9.5% to QR 463
million. As a result, operating profit decreased by 26.6% to QR
185 million. After adding profits from other companies and
deducting the net financing cost, the net profit is down 33% to
QR 236.2 million. Total losses on available investments shrank
to QR 49.5 million compared to QR 389.1 million in the
corresponding period last year making the overall income improve
to a profit of QR 186.8 million compared to a comprehensive loss
of QR 37.2 million in the corresponding period in 2016.
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