Like it's still 2008 - one owner reports 147% rise in interim profit

Tuesday, 11 August 2009

Qatar Gas Transport Company (Nakilat) posted a 147% rise in net profit of for the half of the year to US$64 million compared with US$26 million in the same period a year earlier. Nakilat's share of profit from its JV rose by over 99% to reach US$22 million in the first 6 months of 2009 against US$11.04 million in the H1 of 2008.

The LNG shipper attributed the increase in profit to the its wholly owned vessels however, income from marine and agency services dropped by 8% to US$ 3.9 million in the first 6 months of 2009 from a year earlier due to lower activities at Ras Laffan Port during the H1 of 2009.The company said that profit from Islamic banks dropped by nearly 9% to US$10.59 million in the H1 of the year from US$11.67 million in the same period a year ago.

Source: SeaTradeAsia-Online