Quotes: MENA   Enter Symbol: NewsLetter: Search: advanced

Qatar- Milaha's first quarter net profit touches QR349m  Join our daily free Newsletter

MENAFN - The Peninsula - 30/04/2014
No. of Ratings : 0
Add to Mixx!



(MENAFN - The Peninsula) Qatar Navigation (Milaha) recorded a net profit of QR349m for the first quarter of 2014, up 1 percent, compared with QR345m posted a year ago. Milaha's operating revenues for the first quarter was almost flat on year-on-year with recording QR699m vsagainst QR703m for the same period in 2013.

"Milaha's net result was essentially flat year-on-year, with gains in the gas and petrochem, trading and capital segments offset by declines in the Maritime & Logistics and offshore segments", the company said yesterday.

Milaha Maritime & Logistics saw a decline in revenues and net profit relative to Q1, 2013. A modest increase in import volumes was offset by a decline in export volumes from Mesaieed Port due to a plant shutdown.

Milaha Gas & Petrochem revenue and net profit increased year-on-year. The increase was driven by improved earnings on the wholly-owned and operated tankers, Nakilat and Gulf LPG; in addition, the introduction of new harbor craft into the fleet boosted both revenues and earnings from port marine operations.


Milaha Offshore saw a drop in revenue and profit relative to 2013. A combination of lower vessel utilisation and delays in the delivery of one new vessel drove the decline in first quarter performance.

Milaha Capital saw an increase in net profit relative to 2013, driven by dividend growth as well as a strong increase in the value of the investment portfolio.

"Our performance was mixed in the first quarter of this year," said Sheikh Ali bin Jassim Al Thani (pictured), Chairman and Managing Director of Milaha. "However, we still managed to slightly increase our overall profit year-on-year."

"Although we achieved slightly better results than last year, as part of our continuous improvement efforts, we are still taking active measures to help drive stronger results across our core businesses," said Khalifa Ali Al-Hetmi, President and Chief Executive Officer of Milaha.

 


The Peninsula




  MENA News Headlines
 May 30 2016 - International Freelance Marketplace Proffstore to Present an Innovative Service PIM at The Israel Mobile SummitMENAFN Press
(MENAFN Press) International freelance marketplace Proffstore is going to present an innovative service PIM on 14 June 2016 at The Israel Mobile Summit. On 14 June 2016 Israel Trade Fairs & ...

 May 30 2016 - GDP and other acronymsMENAFN Press
(MENAFN Press) GDP, Gross Domestic Product, is the macro-economic concept par excellence. However, it does not appear at the top of rankings of most used acronyms. Such rankings are established by ...

 May 30 2016 - Lexus Hybrid Owners: Thanks a Million!MENAFN Press
(MENAFN Press) Lexus announced it has sold over 1 million hybrid vehicles since the world's first luxury hybrid vehicle, the RX 400h, went on sale in April 2005. This major milestone has been ...

 May 30 2016 - The Perils of Media IslamMorocco World News
(MENAFN - Morocco World News) Contemporary media Islam has invented a new religious public sphere beyond governmental control across national borders, located in cyber spaces and on satellite ...

 May 30 2016 - Shams 1 wins at the 2016 MENASOL AwardsMENAFN Press
(MENAFN Press) Shams Power Company, developer and operator of the Shams 1 concentrated solar power (CSP) plant in Western Abu Dhabi, has been recognised for its contribution to local communities at ...

 May 30 2016 - Honeywell marks 40 years of aircraft maintenance services that reduce downtime and costsMENAFN Press
(MENAFN Press) Honeywell (NYSE: HON) is celebrating 40 years of providing maintenance service plans for airplane operators and owners of business jets. As one of the world's leading manufacturers of ...

 May 30 2016 - Remittances from UAE play an important role in Egypt & Jordan economiesMENAFN Press
(MENAFN Press) World Bank Group remittance data sees Egypt and Jordan emerge as key receivers of remittances within the MENA region. In 2015, Egypt received an estimated USD 19.7 billion in ...

 May 30 2016 - CUD partners with Provectus Middle East to lead sustainability agenda in higher educationMENAFN Press
(MENAFN Press) Canadian University Dubai (CUD) is set to boost its pioneering work in environmental development and green economy through a new partnership with sustainable solutions experts, ...

 May 30 2016 - GCC Committee for Undersecretaries of Post and Telecommunications successfully concludes 27th meeting in RiyadhMENAFN Press
(MENAFN Press) UAE, 29 May 2016 - A high-level delegation from the UAE Telecommunications Regulatory Authority (TRA) has discussed during its participation at the recently concluded 27th meeting of ...

 May 30 2016 - TP-LINK Outlines 2016 Strategy And Celebrates Top Performing PartnersMENAFN Press
(MENAFN Press) SOHO and SMB Networking Vendor Pays Tribute To Partner Excellence at the First ‎Partner ConneXion 2016 ‎ Duabi, UAE, May 29,2016:TP-LINK Technologies Co Ltd, a leading ...

more...


 





Google

 
 

Middle East North Africa - Financial Network

MENAFN News Market Data Countries Tools Section  
 

Middle East North Africa - Financial Network
Arabic MENAFN

Main News
News By Industry
News By Country

Islamic Finance News
Private Equity News

How-To Guides
Technology Section

Travel Section

Search News

Market Indices
Quotes & Charts

Global Indices
Arab Indices

Commodoties

Oil & Energy

Currencies Cross Rates
Currencies Updates
Currency Converter

USA Stocks
Arab Stocks
 

Algeria 
Bahrain 
Egypt 
Iraq
Jordan 
Kuwait 
Lebanon
Morocco 
Oman 
Palestine
Qatar 
Saudi Arabia 
Syria
Tunisia 
UAE 
Yemen

Weather
Economic Calendar
Financial Glossary


Financial Calculators

RSS Feeds [XML]

Corporate Monitor

Events

Real Estate
Submit Your Property

Arab Research
Buy a Research

Press Releases
Submit your PR

Join Newsletters


 
© 2014 menafn.com All Rights Reserved.  Terms of Service | Privacy Policy | Contact Us | Advertise | About MENAFN | Career Opportunities | Feedback | Help