Milaha reveals net profit from Q1 2015

Sheikh Ali bin Jassim Al Thani
Sheikh Ali bin Jassim Al Thani | Courtesy of

Qatar Navigation, commonly known as Milaha, recently shared that its net profits for the first quarter of this year were more than $100 million.  

That was a 4 percent increase from the Jan. 1 to March 31 of 2014, when the company's net profit was  $95 million.

Milaha’s operating profit reached more than $76 million during the first three months of this year, which is a 2 percent rise over the same period last year.

Other notable figures include the company’s operating revenues, amounting to more than $215 million. This is a 12 percent increase over the company’s operating revenues from the same period in 2014.

This marks the beginning of a strong year for Milaha; all of the company’s core segments, including Gas and Petrochem, Offshore, and Maritime and Logistics, have shown improvement in their bottom line. This increase amounts to 71 percent compared to the first quarter of 2014.

"We are very pleased to have started 2015 so strongly overall," Sheikh Ali bin Jassim Al Thani, chairman of Milaha, said. "And while we hope to maintain the momentum, we know that general market conditions for our Offshore segment are weakening, and that our Capital segment is heavily tied to uncertainties in the local equity market. It will be a challenging year."

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