Nakilat Net Profit Drops 13% to QR847 Million; Board Recommends 10% Cash Dividends

February 25, 2018

Nakilat (Qatar Gas Transport Company net profit that amounted to QR847 million, compared to QR954.2 million made in 2016.The company’s earnings per share hit QR1.53, compared to QR1.72 per share in 2016. The Board of Directors recommended distributing QR 1 per share.

The Group's Comment

Nakilat's total oncome for 2017 dropped by 3.8% to QR 3.62 million, including 3.06 billion returns from the operating of vessels, which remained unchanged from last year's figures. The declined of the comprehensive income came from the decline of the returns on its shares in joint projects. Total expenses fell by 1.4% to QR2.77 billion, including QR1.17 billion spent on financing. As result, the company net profit declined by 11.3% to QR846.2 million, and comprehensive income slid by 19.3% to QR 1237.1 million.