Milaha has reported a net profit of QR1.1bn in 2015, a 4% increase compared to the same period in 2014, mainly paced by its maritime and logistics division, as well as trading division.
The board has recommend 50% cash dividend, equivalent to QR5 per share.
Earnings per share increased to QR9.63 for the 12 months ended December 31, 2015, up from QR9.23 for the same period in 2014.
“Despite an increasingly challenging business environment, 2015 was another good year for Milaha.  Our core operations have performed exceptionally well, posting double-digit revenue growth, as well as positive net profit growth,” Sheikh Ali bin Jassim al-Thani, chairman of Milaha, said.
Operating revenues shot up 14% to QR3bn and operating profit by 18% to QR772mn.
Milaha Maritime and Logistics’ revenue grew 26% and net profit by 133%, driven by strong trade volume growth related to increased infrastructure and other project activity in Qatar.
Milaha Gas and Petrochem’s revenue expanded 51% and net profit by 6%, on the back of strong performance from its fully owned and operated product tankers and gas carriers, as well as investments in associates.  
Milaha Offshore’s revenue soared 21% and net profit by 5%, with stronger diving operations leading the way.
Milaha Trading’s revenue was up 6% and net profit by 67%, with heavy equipment sales for ongoing projects in Qatar driving most of the growth.
Milaha Capital’s revenue declined 22% and net profit by 41%, mainly on lower returns in the actively traded investment portfolio.
Given the low oil price environment and the weakening global economic environment, Sheikh Ali said “the medium term holds a number of significant challenges for the industries in which we operate.”
However, Milaha is confident that the foundation it has laid in the past few years will enable it not only to withstand the current headwinds, but also position it for sustainable future growth, he added.