Nakilat announces its half-year performance for 2016
30 July 2016
Nakilat, the shipping arm of Qatar’s liquefied natural gas (LNG) sector, announced its half year financial results for the six months ended 30 June 2016. The company’s net profit reached to QR501 million in the first half of this year as compared to the QR491 million of same period last year with an increase of 2%.
The increase in the company’s profits reflects the strong growth of Nakilat’s operating activities in transporting liquefied natural gas (LNG), and better performance of its liquefied petroleum gas (LPG) vessels.
Nakilat Managing Director Eng. Abdullah Fadhalah Al Sulaiti said, “Nakilat’s half-year financial results are a clear indicator of the strength and stability of the company’s financial position, which has been achieved through sound growth and developmental strategies over the years. We are also continually assessing current investments in relation to profitability in order to address any risk involved for the company and its shareholders.”
Al Sulaiti added, “Our LNG joint venture operations continue to underpin Nakilat’s financial results, enabling us to value-add to our shareholders.”