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Milaha Net Profit Rises to QR297 Million in
1st Half of 2018
July 31, 2018
Qatar Navigation (Milaha) showed a net profit
of QR297 million in first half of 2018, compared to QR267
million in the same period of the previous year, while its
earnings per share amounted to QR2.62, versus QR2.35.
The Group’s Comments:
Milaha’s operating income increased by 9.4%
to QR1.25 billion in the first half. Of 2018, as well as its
share in the profits of its associates by 8.5% to QR139.7
million, while its share of joint arrangements multiplied to
QR82.1 million. On another hand, the company’s expenses of all
kinds increased by 2.1% to QR995.7 million, and the net
financing cost doubled to QR48.8 million, while the impairment
loss of ships and businesses doubled to QR140.2 million. As a
result, the net profit increased by 11.1% to QR297.1 million. In
terms of comprehensive income, the company achieved profits of
QR407.8 million during this period, compared to a loss of
QR476.4 million in the corresponding period of 2017. Milaha
achieved a comprehensive income of QR704.8 million, versus a
comprehensive loss of QR208.6 million in the same period last
year.
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