Qatar's Nakilat posts flat Q1 net profits

  • Share via facebook
  • Tweet this
  • Bookmark and Share

Qatar Gas Transport Company (Nakilat), one of the world's largest shipper of liquefied natural gas (LNG), has posted a flat first-quarter net profit as a derivatives loss made a dent in company earnings.

The firm reported a net profit of QR177.2m ($48.7m) for the first quarter of 2013 its said in a statement to the Qatar stock exchange, compared to QR176.6m in the same period last year.

The net profit figure missed the estimate of EFG Hermes, which forecast that the company would make QR207.4m for the first three months of the year.

Nakilat said it made a loss on derivatives at an overseas joint venture of QR11.8m in the quarter due to the way the instruments were treated in its accounts. The move had no impact on the cash flows or liquidity of the firm, it added.

The company posted a QR10m loss on derivatives in the first quarter of 2012.

Shares in Nakilat closed on Thursday 0.3 percent lower, trimming year-to-date gains to 4.6 percent, against a wider market decline of 0.4 percent.


Market Performance

Qatar Gas Transport Company
-0.05 -0.21 (%)
Join the Discussion

Disclaimer:The view expressed here by our readers are not necessarily shared by Arabian Business, its employees, sponsors or its advertisers.

Please post responsibly. Commenter Rules

  • No comments yet, be the first!

Enter the words above: Enter the numbers you hear:

All comments are subject to approval before appearing

Further reading

Features & Analysis
Dubai Tram essential guide

Dubai Tram essential guide

Prepare to explore the city in a whole new way from Wednesday...

Focus: Why is the aviation industry still struggling to attract female pilots?

Focus: Why is the aviation industry still struggling to attract female pilots?

We investigate why, amidst the looming shortage of commercial...

Playing by the numbers: Saudi Arabian Airlines

Playing by the numbers: Saudi Arabian Airlines

Why is Saudia only mentioned as an afterthought when one talks...

Most Popular
Most Discussed
  • 20
    Why Dubai should consider removing the rent cap

    Not even one comment supporting the author. I wonder if he is trying to create a bubble. more

    Monday, 24 November 2014 2:25 PM - Anil
  • 14
    Life sentence for London hammer attacker

    The death sentence is a free pass. The purpose of punishment has always been to provide a lesson for misbehaving. No one learns a lesson by dying. Life... more

    Friday, 21 November 2014 2:02 PM - LordLands
  • 5
    Is this the end of F1?

    Compare this to WEC and you see a stark difference. The 'formula' for WEC is much more wider and more accomodating. They have been runnning hybrids for... more

    Monday, 24 November 2014 2:30 PM - Vincent