Milaha Discloses Its Financial Statements for Six Month Period Ended On 30th June 2017

August 02, 2017

QATAR NAVIGATION (Milaha) disclosed its financial statements for the six- month period ended 30.06.2017. The statements show that the net profit is QAR 267 million compared to a net profit of QAR 553 million for the same period of the previous year.

Earnings per Share (EPS) amounted to QAR 2.35 for the six -month period ended 30.06.2017 compared to EPS of QAR 4.86 for the same period of the previous year.

The Group Securities

Qatar Navigation's operational income decreased by 17.4% to QR1145.8 million in the second quarter of this year. Total expenses decreased by 6.3% to QR 945.4 million, QR 456.1 million as cost of operations and supply, and 262.4 million as public and administrative expenses. As result, net profit dropped by 55% to QR170.4 million. Adding and deducting other items, including a loss worth QR128.8 million as result of negative returns from associate companies; net financing cost worth QR16.5 million, net profit drops by 51.7% to QR 267.3 million. The company incurred a loss as result of change in the value of its financial assets worth 502.7 million, compared QR 163.9 million last year. Hence, net profit turned into a total loss worth QR 208.6.