Milaha has reported a net profit of QR870mn in the first nine months of this year, growing 2.23% on an annualised basis.
The company's operating revenues amounted to QR2.23bn in January-September 2023, which however declined 12.89% year-on-year.
Milaha's Gas and Petrochem’s net profit increased by QR37mn, mainly from the deployment of its first floating storage and offloading (FSO) unit, which began operations in the middle of 2022.
Milaha Offshore’s net profit increased by QR87mn mainly from higher yielding projects and improved utilisation of key assets.
Milaha Capital’s net profit increased by QR133mn, driven by the non-recurrence of 2022 real estate property impairment, coupled with increased income from its investment arm.
Milaha Trading’s bottom line increased by QR6mn, mainly from the growth in higher margin product sales.
However, Milaha Maritime and Logistics’ net profit decreased by QR245mn driven by the steep decline in container shipping market rates.
Earnings-per-share of QR0.77 for the nine-month ended September 30, 2023, compared to QR0.75 for the same period in 2022.
Milaha's operating revenues amounted to QR2.23bn in January-September 2023
