Qatar Navigation (Milaha) Q.P.S.C. today announced its financial results for the six months ended June 30, 2021.
Key financial highlights:
Milaha Maritime & Logistics’ net profit increased by QAR 24 million mainly due to strong shipping rates, increased volumes, and internal optimization measures in our container shipping unit.
Milaha Gas & Petrochem’s net profit decreased by QAR 40 million, with drastically reduced tanker market rates driving the reduction.
Milaha Offshore’s net profit increased by QAR 108 million, driven by reduced vessel impairments compared to the same period last year.
Milaha Capital’s net profit increased by QAR 43 million. This increase is mainly due to lower impairments compared to the same period last year.
Milaha Trading’s bottom line increased by QAR 2 million driven by increased heavy equipment sales volume.
The company will conduct an investor conference call on Sunday, July 25 at 2:00 pm Doha time, to further discuss its results. The conference call may be accessed by telephone by dialing 00 800 100 443 and entering the Conference ID: 7892673. Further information can be found here.