In a brief statement, the Doha-listed firm revealed a netprofit of QAR 349.4m ($96m) for the three months to 31 March compared to QAR 344.6m forthe year earlier period.

Earnings per share amounted to QAR 3.08 versus QAR 3.03 of the same period in2013.

Milaha operates a fleet of 36 vessels that includes containerships,gas carriers, chemical/product carriers and tugs.

Its stable includes a quartet of VLGCs in a 50/50 jointventure with compatriot shipowner Nakilat.

The company booked a 14% rise in net profit last year to QAR950m thanks to financial investments.