Milaha has reported net profit of QR1.12bn in 2024, an 8.74% jump on an annualised basis.
The company's board has suggested 40% cash dividend of the par value, equivalent to QR0.40 per share, representing a payout ratio of 40% of 2024 net profit.
Earnings per share were QR0.99 for the year ended December 31, 2024 compared to QR0.91 for the same period in 2023.
However, operating revenues reported a 3.4% drop year-on-year to QR2.84bn for the year ended December 31, 2024.
Milaha Maritime and Logistics’ net profit shot up by QR45mn on a yearly basis, led by stronger performance from its container shipping unit from the deployment of new vessel routes and services.
Milaha Gas and Petrochem’s net earnings grew by QR52mn year-on-year, driven by strong results from its associate and joint venture companies.
Milaha Offshore’s net profit increased by QR24mn on an annualised basis, driven by enhanced operating margins and strong growth in Qatar’s oil and gas sector.
Milaha Capital’s net earnings decreased by QR3mn compared with the same period in 2023, as an impairment charge in real estate unit more than offset higher investment income.
Milaha Trading’s bottom line shrank by QR27mn on a yearly basis, mainly on account of declining sales of heavy equipment, bunker and related ancillary services, along with a write-down in the value of associated spare parts.
