Milaha Reports 4 Percent Profit Growth

Qatar-based marine transport and logistics conglomerate Qatar Navigation (Milaha) delivered a net profit of QAR 1.095 billion (USD 300.6 billion) for the full year of 2015, representing a 4 percent increase compared to the previous year.

The company’s operating revenues for the period increased by 14 percent to QAR 2.998 billion (USD 823.2 billion) from QAR 2.633 billion (USD 723 billion) in 2014, while Milaha’s operating profit increased by 18% to QAR 772 million in 2015, from QAR 656 million recorded a year earlier.

“Despite an increasingly challenging business environment, 2015 was another good year for Milaha. Our core operations have performed exceptionally well, posting double-digit revenue growth, as well as positive net profit growth,” said Sheikh Ali bin Jassim Al Thani, Chairman of Milaha.

Milaha’s operating profit up by 18% in 2015

Milaha Maritime & Logistics’ revenue grew by 26% and net profit by 133%, driven by strong trade volume growth related to increased infrastructure and other project activity in Qatar.

Milaha Gas & Petrochem’s revenue grew by 51% and net profit by 6%, on the back of strong performance from its fully owned and operated product tankers and gas carriers, as well as investments in associates.

Milaha Offshore’s reported an increase in revenue of 21% and in net profit by 5%, while Milaha Trading’s revenue rose by 6% and net profit by 67%.

“Given the low oil price environment and the weakening global economic environment, the medium term holds a number of significant challenges for the industries in which we operate,” the chairman said, adding that Milaha is “confident that the foundation we have laid in the past few years will enable us not only to withstand the current headwinds, but also position us for sustainable future growth.”

Share this article

Follow World Maritime News

In Depth>

Events>

<< Mar 2020 >>
MTWTFSS
24 25 26 27 28 29 1
2 3 4 5 6 7 8
9 10 11 12 13 14 15
16 17 18 19 20 21 22
23 24 25 26 27 28 29
30 31 1 2 3 4 5

Seawork 2020

Seawork is Europe’s leading commercial marine and workboat exhibition, providing businesses the opportunity…

read more >

Belgian Offshore Days 2020

During this event, a conference will be held with focus on “Increasing value by data driven innovation…

read more >

World Future Ports Summit 2020

This event will bring together ports and maritime shipping professionals from global leading companies and authorities to discuss recent digital technologies…

read more >

Europort Romania

Europort Romania is the premier maritime networking event of the Black Sea and will connect maritime technology and service suppliers with high level professionals from Romania and surrounding shipbuilding markets.

More info

read more >