Milaha Reports Net Profit of QR 236 Million for Q1 2017

Qatar Navigating (Milaha) Q.P.S.C. revealed its financial results for the three months ended March 31, 2017.

Key financial highlights:
Operating revenues of QR 648 million for the three months finished March 31, 2017, compared with QR 767 million for the same period in 2016
Operating profit of QR 185 million for the three months ended March 31, 2017, compared to QR 256 million for the same period in 2016
Net profit of QR 236 million for the three months ended March 31, 2017, as compared to QR 352 million for the same duration in 2016
Earning per share of QR 2.12 for the three months ended March 31, 2017, compared to QR 3.10 for the exact same duration in 2016

Milaha Maritime & Logistics' net profit declined by QR 14 million, generally as an outcome of ongoing price stress in our Container Shipping unit.
Milaha Gas & Petrochem's net earnings declined by QR 46 million as an outcome of a global recession in delivery prices that influenced all significant markets we operate in.
Milaha Offshore's web earnings lowered by QR 25 million, with QR 22 countless that pertaining to problems.
Milaha Capitals net profit reduced by QR 21 million, primarily due to disabilities in available for sale investments.
Milaha Trading's net profit earnings lowered by QR 4 million, as an outcome of a weaker need for industrial vehicles and heavy equipment.

" We are continuing to encounter the very same market challenges as in 2016, yet we stay confident in our capability to drive development and take advantage of new opportunities while working out monetary self-control," claimed H.E. Sheikh Ali bin Jassim Al Thani, Chairman of Milaha's Board of Directors.

For his part, Milaha's President and Chief Executive Officer Mr. Abdulrahman Essa Al-Mannai claimed: "Provided the challenging atmosphere we are working in, we published strong operational outcomes. We will certainly continue continuing with our multi-year growth approach to construct a stronger and extra sustainable business."

The company will conduct an investor conference call on Thursday, April 27th, 2017 at 3 pm Doha time, to even more review its results. The conference call may be accessed by telephone by calling +44 (0) 1452555566 (UK and International) and getting in the Conference ID: 10483648. More info could be found on our internet site www.milaha.com.