Qatar Navigation (Milaha) Q.P.S.C. today announced its financial results for the three months ended March 31, 2021.
Key financial highlights:
Milaha Maritime & Logistics’ net profit increased by QAR 12 million due to increased container shipping rates and operational optimization measures that improved operating margins.
Milaha Gas & Petrochem’s net profit decreased by QAR 7 million, due to a drop in tanker market rates, which more than offset higher income from our joint ventures and associates.
Milaha Offshore’s net profit increased by QAR 80 million, mainly due to a reduction in vessel impairments compared to the same period last year.
Milaha Capital’s net profit decreased by QAR 72 million, due to lower dividend income in our financial investment portfolio as well as one-off property sale gains recorded in 2020.
Milaha Trading’s bottom line increased by QAR 1 million driven by top line sales growth of QAR 16 million.
The company will conduct an investor conference call on Monday, April 25 at 2:00pm Doha time, to further discuss its results. The conference call may be accessed by telephone by dialing 00 800 100 459 and entering the Conference ID: 6818866.