Doha, Qatar-- Qatar Navigation (Milaha) Q.P.S.C. today announced its financial results for the three months ended March 31, 2018.
Key financial highlights:
Milaha Maritime & Logistics'revenue increased by QAR 65 million and net profit by QAR 29 millionas a result of volume growth in our Ports business, and better operating margins in our Container Shipping unit.
Milaha Gas & Petrochem'srevenue decreased by QAR 5 million and net profit by QAR 54 million. Low shipping rates and the knock-on effect on vessel valuations in the sectors we operate continue to put a damper on profits.
Milaha Offshore'srevenue decreased by QAR 29 million and bottom line by QAR 13 million.Milaha Capital'srevenue increased by QAR 45 million and net profit by QAR 65 million with higher dividend income from our equity portfolios driving most of the growth.