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Milaha raises profit by 17 percent

Arabic shipping group Milaha managed to raise its net profit by 17 percent in the first nine months of the year, the company’s interim report shows.

Photo: Milaha

Arabic shipping group Milaha has lifted its net profit by 17 percent to QR 959 million, or roughly USD 264 million, in the first nine months of 2015 compared to the same period last year, when it presented a profit of QR 821.

Operating revenues also increased by 17 percent, landing at GR 2.3 billion for the first nine months in which the company registered progress across the board. Milaha raised revenue by 30 percent and net profit by a staggering 151 percent in its Maritime and Logistics division, due mainly to the port and container shipping units, which were positively impacted by significant growth in trade volumes, driven largely by an increase in project and infrastructure activity in Qatar.

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