Milaha has reported 1.09% year-on-year jump in net profit to QR648mn in the first half (H1) of 2023. Operating revenues amounted to QR1.51bn for the six months ended June 30, 2023, compared to QR1.77bn for the same period in 2022.
Earnings-per-share increased to QR0.57 at the end of June 30, 2023, compared to QR0.56 for the same period in 2022.
Milaha Gas and Petrochem’s net profit increased by QR20mn, largely driven by its first floating storage and offloading (FSO) unit, which began operations in the middle of 2022.
Milaha Offshore’s net profit increased by QR99mn from higher yielding projects and improved operating efficiency.
Milaha Capital’s net profit increased by QR35mn, driven by increased income from our investment unit along with reduced provisions recorded in 2022.
Milaha Trading’s bottom line increased by QR6mn, mainly from higher margin product offerings and sales.
Milaha Maritime and Logistics’ net profit decreased by QR152mn as container shipping rates dropped from near record highs.
