The net profit of Qatari Milaha increased in the second quarter of 2023 by 1.4%, compared to the corresponding month of last year, to reach 284.4 million riyals.
The company’s profits increased by the end of the first half of this year by 1%, on an annual basis, to reach 647.4 million riyals.
The company’s semi-financial statements showed a decline in operating revenues by 14.7% to about 1.5 billion riyals, as a result of the decline in container freight rates by about 152 million riyals, to the lowest recorded levels.
Net profit in offshore platform support services increased by 99 million riyals, as a result of improved operational efficiency and the acquisition of projects with higher profit margins.
Milaha Capital’s net profit recorded an increase of 35 million riyals, driven by an increase in investment income and a decrease in provisions.
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