Qatar Navigation H1 net profit rises 30%

Company cites improved performance at its maritime and logistics businesses
Qatar Navigation H1 net profit rises 30%
By Abdul Rawuf
Mon 22 Jul 2013 02:21 PM

Qatar Navigation (Milaha) on Monday reported a 30 percent increase in net profit for the first half of the year, with the company citing improved performance at its maritime and logistics, offshore and capital businesses.

The firm made a net profit of QR574m ($157.6m) in the six months to June 30, compared to QR441m in the corresponding period in 2012, the company said in a statement on Doha's bourse.

No quarterly figures were provided.

However, Reuters calculated a second-quarter net profit of QR229.4m based on earlier earnings announcements.

QNB Financial Services had estimated Milaha to post a second-quarter net profit of QR212.13m.

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