Milaha has reported net profit of QR300mn on operating revenues of QR1.22bn in the first six months of this year.
The earnings-per-share stood at QR0.26 compared to QR0.28 in the corresponding period of 2019.
Operating profit grew more than 9%, while net profit was down 5% year-on-year in the review period.
Milaha Gas and Petrochem’s revenue grew by QR22mn and net profit by QR117mn. The increases were driven mainly by improved market rates that had a positive impact on its wholly owned assets as well as joint ventures and associates.
Milaha Offshore’s revenue increased by QR31mn and bottom line by QR7mn. Vessel impairments overshadowed operating profit increases, the spokesman said.
Milaha Maritime and Logistics’ revenue shrank QR22mn and net profit by QR19mn. Most of the decrease was in its logistics unit due to volume and project disruptions related to Covid-19.
Milaha Capital’s revenue decreased by QR48mn and net profit by QR121mn, driven mainly by a reduction in investment income coupled with a one-time impairment on a real estate asset.
Milaha Trading’s bottom line remained flat against the same period in 2019, despite a reduction in revenue, due to improved operating margins.
Operating profit grew more than 9%, while net profit was down 5% year-on-year in the review period.
Milaha Gas and Petrochem’s revenue grew by QR22mn and net profit by QR117mn. The increases were driven mainly by improved market rates that had a positive impact on its wholly owned assets as well as joint ventures and associates.
Milaha Offshore’s revenue increased by QR31mn and bottom line by QR7mn. Vessel impairments overshadowed operating profit increases, the spokesman said.
Milaha Maritime and Logistics’ revenue shrank QR22mn and net profit by QR19mn. Most of the decrease was in its logistics unit due to volume and project disruptions related to Covid-19.
Milaha Capital’s revenue decreased by QR48mn and net profit by QR121mn, driven mainly by a reduction in investment income coupled with a one-time impairment on a real estate asset.
Milaha Trading’s bottom line remained flat against the same period in 2019, despite a reduction in revenue, due to improved operating margins.