Milaha Net Profit Climbs by to QR 400 Million in Q3 2018

October 31, 2018

Qatar Navigation (Milaha) net profit amounted to QR400 million in the nine month period ended 30/09/2018, compared to QR363 million for the same period of the previous year, while its earnings per share reached QR3.52, versus QR3.19 for the corresponding period of 2017.

The Group’s Comments:

Milaha’s operating income climbed by 9.6% to QR1.81 billion, while its expenditures increased by 2.7% to QR1.50 billion and net financing cost doubled to QR68.2 million. After adding shares in the profits of associates and joint arrangements amounting to QR331.5 million (compared to QR275.4 million in the same period last year) and deducting impairment of assets amounting to QR183.2 million, the result is an increase in the net profit of 10.1% to QR399.8 million. The surprising factor in the statement was the comprehensive income, which recorded a climb to QR1310.3 million, versus a comprehensive loss of QR297.8 million in the corresponding period of 2017.