Free Zone
News
MILAHA REPORTS NET
PROFIT OF QR 1.095
BILLION FOR FULL
YEAR 2015
Qatar Navigation (Milaha)
Q.S.C. announced its financial
results for the twelve months
ended December 31, 2015.
Milaha delivered a net profit of
QAR 1.095 billion for the fullyear of 2015, a 4% increase
compared to the same period
in 2014.
Key financial highlights:
•
Operating revenues increased by 14% to QAR 2.998
billion for the twelve months ended December 31, 2015, up from
QR 2.633 billion for the same period in 2014
•
Operating profit increased
by 18% to QAR 772 million for the
twelve months ended December
31, 2015, up from QR 656 million
for the same period in 2014
•
Net profit increased by
4% to QAR 1.095 billion for the
twelve months ended December
31, 2015, up from QR 1.049 billion for the same period in 2014
•
Earnings per share increased to QAR 9.63 for the
twelve months ended December
31, 2015, up from QR 9.23 for
the same period in 2014
The Board of Directors decided to recommend to the
General Assembly to distribute a 50% cash dividend,
equivalent to QR 5 per share.
Milaha Maritime & Logistics’ revenue grew by 26% and net
profit by 133%, driven by strong
trade volume growth related to
increased infrastructure and
other project activity in Qatar.
Milaha Gas & Petrochem’s revenue
grew by 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
grew by 21% and net profit by 5%, with stronger diving
operations leading the way.
Milaha Trading’s revenue grew
by 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 by 22% and net profit
by 41%, mainly due to lower returns in the actively
traded
investment
portfolio.
“Despite an increasingly challenging business environment,
2015 was another good year
for Milaha. Our core operations have performed exceptionally well, posting doubledigit revenue growth, as well
as positive net profit growth,”
said H.E. Sheikh Ali bin Jassim
Al Thani, Chairman of Milaha.
“Given the low oil price environment and the weakening global
economic environment, the
medium term holds a number
of significant challenges for the
industries in which we operate,” he added. ”However, we
are confident that the foundation we have laid in the past
few years will enable us not
only to withstand the current
headwinds, but also position us
for sustainable future growth.”
FREE
ZONE
INDIA TOPS DAFZA’S
INVESTOR COUNTRIES
DAFZA witnessed an impressive increase of 23 per cent
in the number of Indian companies operating within the
Freezone during 2015. Official
statistics reveal that India