Milaha has reported more than 70% increase year-on-year in net profit to QR654mn during the first nine months of this year.
The operating revenues expanded 17.64% year-on-year to QR2bn during the period in review.
The earnings-per-share was QR0.58 at the end of September 30, 2021 compared to QR0.34 for the same period in 2020.
Milaha Maritime and Logistics’ net profit increased by QR59mn against the same period in 2020, driven by continued strong container shipping rates and network optimisation measures.
Milaha Offshore’s bottom line increased by QR201mn compared with the same period in 2020. The increase was mainly due to a decrease in vessel impairments that was slightly offset by an increase in Covid-19-related operating expenses.
Milaha Capital’s net profit increased by QR38mn against the same period in 2020, mainly a result of one-time impairments recorded in 2020 not recurring this year.
Milaha Trading’s bottom line increased by QR2mn compared with the same period in 2020, driven by an increase in heavy equipment sales.
However, Milaha Gas and Petrochem’s net profit decreased by QR29mn against the same period in 2020, as weakened tanker shipping rates more than offset the strong performance from its associate companies.
The earnings-per-share was QR0.58 at the end of September 30, 2021 compared to QR0.34 for the same period in 2020.
Milaha Maritime and Logistics’ net profit increased by QR59mn against the same period in 2020, driven by continued strong container shipping rates and network optimisation measures.
Milaha Offshore’s bottom line increased by QR201mn compared with the same period in 2020. The increase was mainly due to a decrease in vessel impairments that was slightly offset by an increase in Covid-19-related operating expenses.
Milaha Capital’s net profit increased by QR38mn against the same period in 2020, mainly a result of one-time impairments recorded in 2020 not recurring this year.
Milaha Trading’s bottom line increased by QR2mn compared with the same period in 2020, driven by an increase in heavy equipment sales.
However, Milaha Gas and Petrochem’s net profit decreased by QR29mn against the same period in 2020, as weakened tanker shipping rates more than offset the strong performance from its associate companies.