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 harbour 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
 Jul 31 2015 - Telecoms consider Gulf markets after poor Q2MENAFN
(MENAFN) Gulf stock markets were narrowly mixed yesterday as a series of disappointing corporate earnings reports, especially in the telecommunications sector. Saudi Arabia's main index inched down ...

 Jul 31 2015 - Tunisia cuts own growth estimationMENAFN
(MENAFN) Tunisia has cut its 2015 growth forecast to 0.5% this year, down from an expected 1%, its finance minister said yesterday.Tourism revenues represent about 7% of the economy, and, adding to ...

 Jul 31 2015 - Vodafone Qatar increase plans stay on trackMENAFN
(MENAFN) Vodafone Qatar, which has witnessed a 5% jump in customer base to USD 1.42mn in the first three months of this year.Revenue was down 8% to QR537.9mn and mobile average revenue per user.The ...

 Jul 30 2015 - Egypt- Trial of businessman Ehab Talaat postponedqDaily News Egypt
(MENAFN - Daily News Egypt) The trial of prominent businessman Ehab Talaat was postponed to 26 December on Tuesday for an expert report on the matter.Talaat is being sued by the Al-Ahram Foundation ...

 Jul 30 2015 - Egypt participates in UN counter-terrorism meetingDaily News Egypt
(MENAFN - Daily News Egypt) An Egyptian delegation participated Tuesday in the UN counter-terrorism meeting in the Spanish capital, Madrid, and discussed efforts to tackle militancy.Egypt also ...

 Jul 30 2015 - Egyptian court postpones verdict in Al Jazeera journalists' retrialDaily News Egypt
(MENAFN - Daily News Egypt) A court in the Egyptian capital, Cairo, has postponed the verdict in the retrial of three Al Jazeera journalists, jailed for aiding a terrorist organization with false ...

 Jul 30 2015 - Egypt- 'Will justice be served this Thursday?' (1):JournalistsDaily News Egypt
(MENAFN - Daily News Egypt) An Egyptian court will conclude one of Egypt's most hotly debated cases since the ouster of the Muslim Brotherhood regime in 2013, and one of the longest trials the ...

 Jul 30 2015 - Al-Jazeera re-trial case adjourned to 2 AugustDaily News Egypt
(MENAFN - Daily News Egypt) The Egyptian court was to conclude Thursday one of Egypt's most debated cases since the toppling of the Muslim Brotherhood's regime, also among the longest trial the ...

 Jul 30 2015 - Egypt- Trial against Fatima Naoot continuesDaily News Egypt
(MENAFN - Daily News Egypt) The prosecution at the Sayeda Zeinab Misdemeanour Court decided on Wednesday to postpone the case against Fatima Naoot, who is charged with contempt of religion.In turn, ...

 Jul 30 2015 - Ooredoo Oman profit up 18.7 percent in H1MENAFN
(MENAFN) Omani Qatari Telecommuni-cations Company (Ooredoo), has reported an 18.7 percent increase in its net profit for the first half of this year.The company's revenues for the first half of 2015 ...

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