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Doha – The Arabs
Qatar Navigation Co. ("Navigation") achieved a net profit of 316 million RS in the first half of this year, compared to 297 million RS for the same period last year.
Earnings per share were 0.28 SAR for the six months ended June 30, 2019, up from 0.26 SAR for the same period in 2018.
Operating profit reached 1.26 billion SAR for the six months ended June 30, 2019, up from 1.25 billion for the same period of 2018.
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Operating profit for the six months ended June 30, 2019 was established at 230 million SAR, against 258 million SAR for the same period in 2018.
Marine and logistic revenues decreased by RS 14 million, while net profit in the sector remained at SR 65 million, as the strong performance of the port activity offset the decline in revenues. logistics and ship repair and maintenance units.
In gas and petrochemical shipping, operating income decreased by 5 million riyals, while net profit increased by 181 million riyals due to the decline in the value of ships compared to 2018 and the price improvement in the shipping market in certain sectors of the company.
Revenues in the navigation sector to support marine platforms increased by RS 99 million, while net profit decreased by 95 million RS. Despite strong operational performance and higher operating earnings, the results for this segment decreased due to lower vessel values.
Revenues in the Malaysian capital sector decreased by $ 49 million and net income by $ 62 million due to lower dividend income and investment portfolio earnings.
Revenues from the commercial sector decreased by 9 million riyals, while net profit decreased by 5 million riyals due to lower sales of heavy equipment.
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