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Milaha’s Profit Grows by 17 Pct

first_imgzoom Qatar Navigation (Milaha) Q.S.C. delivered a net profit of QAR 959 million (USD 264 million) for the first nine months of 2015, a 17% increase compared to the same period in 2014. Milaha’s operating revenues increased by 17% to QAR 2.31 billion for the period, up from QR 1.97 billion for the same period in 2014. The company’s operating profit increased by 29% to QAR 699 million from QR 540 million for the same period last year.Earnings per share amounted to QAR 8.44, also up from last year’s QR 7.22.“We are very pleased with our operating results for this reporting period. We have remained focused and disciplined in executing our strategic priorities, and as a result, we continue to deliver strong financial performance and create value for our shareholders,” said HE Sheikh Ali bin Jassim Al Thani, Chairman of Milaha.Milaha Maritime & Logistics’ revenue grew by 30% and net profit by 151%, which Milaha attributed mainly to the port and container shipping units, which were positively impacted by significant growth in trade volumes amid an increase in project and infrastructure activity in Qatar.The company’s Gas & Petrochem’s revenue rose by 52% and net profit by 18%, on the back of robust charter rates from its fully owned and operated product tankers and gas carriers as well as from its investments in associates.Milaha also saw a revenue jump of 29% and net profit growth by 120% in its offshore business driven largely by the strong performance in its diving services business.In addition, Milaha experienced increase in trading revenue and profit of 12% and 100% respectively on the back of strong equipment sales driven largely by the ongoing projects in Qatar.Despite outperforming the Qatar Exchange index, the performance of the actively traded investment portfolio of Milaha Capital experienced a decline, resulting in a 33% drop in net profit compared to the same period in 2014, the company said.last_img read more

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Latest water samples from oilspill river show one is higher than guidelines

SASKATOON – The latest round of tests after an oil spill in the North Saskatchewan River has found one sample contained hydrocarbons that exceeded drinking-water standards.Patrick Boyle with the Saskatchewan Water Security Agency says 55 samples were taken.He says hydrocarbons are attaching to the sediment in the river and water treatment plants will be able to remove them.Boyle says 22 of the samples exceeded the limits for protection of aquatic life, which is two more than were reported on Sept. 9.Up to 250,000 litres of oil mixed with a lighter hydrocarbon leaked into the river from a Husky Energy (TSE:HSE) pipeline near Maidstone, Sask., in July.The agency said last week that the cities of North Battleford, Prince Albert and Melfort could resume taking water from the river.The cities had to shut off their intakes and find alternate water sources after the oil plume moved downstream.Almost 150 animals were found dead, mostly fish and small mammals.It’s still not clear what caused the spill. The government has said a full investigation is expected to conclude next month.(CJWW) by The Canadian Press Posted Sep 22, 2016 2:55 pm MDT Last Updated Sep 22, 2016 at 4:00 pm MDT AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to RedditRedditShare to 電子郵件Email Latest water samples from oil-spill river show one is higher than guidelines read more

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