Qatar's Nakilat Q2 net profit surges 63%

Qatar Gas Transport Co (Nakilat) posted profit of 50.9 million riyals ($13.98 million) in the second quarter, up 62.5 percent from the year-earlier period.

The company made profit of 90.4 million riyals in the first half of the year, compared with 54.3 million riyals a year earlier, it said in a statement on the Doha bourse website, without offering a breakdown of quarterly data.

The quarterly earnings were on par with the 50.55 million riyal profit forecast of Middle East Brokerage Co in a survey by newswire Reuters in June.

Reuters calculated the quarterly profit based on previous financial statements. Nakilat reported net profit attributable to shareholders of 31.33 million riyals in the second quarter of 2007 and 39.48 million riyals in the first quarter of this year. (Reuters)

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