Business
S'hail Shipping and Maritime Services reports QR69mn net profit in 2022; approves 17% dividend
February 19, 2023 | 06:00 PM
S’hail Shipping and Maritime Services has reported a net profit of QR69mn on revenues of QR133mn in 2022.In view of the profitability, the company's annual general assembly approved 17% cash dividend to its 378 Qatari shareholders. With this, total dividend declared by it since inception amounts to QR111mn (averaging 12% per annum).
"The company’s solid financial earnings, year after year, are a direct testament to its position as one of the global leaders and provider of choice for dry bulk transportation and maritime services across all major ports around the globe such as in the US, Australia, Europe, Africa and Asia," said Mohamed Khalifa al-Sada, its chairman and managing director.
At the end of 2022, the company's ships had undertaken a total of 249 voyages transporting around 15.1mn tonnes of dry bulk cargo like grains, coal, iron ore, maize, gabbro, salt, bauxite, wheat, corn, fertiliser and other minerals, he said."This is an extra-ordinary achievement particularly in a harsh environment of geo-political uncertainty, pandemic and extreme weathers (which are) detrimental to ship’s performance," he added.Rajiv Pal, S'hail Shipping and Maritime Services, chief executive officer, said this continuous growth momentum has created tremendous value to its customers and shareholders which has placed S’hail in the league of highly respectable corporations on the world shipping map.
February 19, 2023 | 06:00 PM