(The Group’s Comments) Nakilat Net Profit
Climbs to QR 236 Million in the First Quarter of 2019
April 22, 2019
·
Profits: The net profits of Qatar Gas Transport Company
Ltd. (Nakilat) amounted to QR 236 million in the first quarter
of 2019, an increase of 9% compared to QR 216.4 million, while
its earnings per share reached QR 0.43 in the period ended
31/3/2019, versus QR 0.39 for the corresponding period of 2018.
·
Comprehensive Income:
Nakilat recorded an impairment loss in the statement of
comprehensive income for hedging contracts, as well as a change
in the fair value of its investments of about QR 277.67 million
in the first quarter of 2019, compared to an assessment profit
of QR 390.20 million for the same period of 2018.
·
Revenues: The company’s total revenues for the first
quarter of 2018 rose by 1.4% to reach QR 902.4 million, compared
to QR 890.3 million for the first quarter of 2018. The increase
in revenues comes from the increase in the share of the company
in the profits of joint ventures, which increased from QR 85
million to QR 103 million. This has offset the QR 5.7 million
decline in operating revenues from ships, as well as the QR 2.4
million drop in marine services.
·
Shareholders' Equity:
Decreased by 8.5% year-on-year or by QR 554 million (QR 1.00 per
share) as a result of profits distributed last year. Hedge
reserves decreased by QR 247 million compared to 2018, and
return on equity reached 3.72% in the first quarter of 2019,
compared to 3.65% for the corresponding period of 2018.
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