Improved results from its gas and tanker operation has helped push up first half profit at Qatar Navigation (Milaha).
Stronger results from its ports business also aided the bottom line, which grew by 6% year-on-year.
It came despite drops in contributions from Milaha’s logistics and shipyard units.
Overall, net profit rang in at QAR 316m ($70.95m) for the six months to the close of June 2019, up from QAR 297m in the same stretch of 2018.
Net profit from its Milaha Gas & Petrochem division rose by QAR 181m thanks to a reduction in ship impairments and improving markets, it said today.
Vessel impairments, however, continued to trouble its offshore business, which saw its bottom line fall by QAR 95m.
Further details on the performance of its shipping and offshore activities were not provided.
Milaha Maritime & Logistics posted a flat profit of QAR 65 as better results from posts offset a drop in logistics and shipyard income.
Milaha Capital and Milaha Trading also recorded lower profit.
