Qatar Gas Transport Co. Ltd (Nakilat) has announced that, in 1Q16, its net profits reached QR 240 million. In 1Q15, the company’s net profits reached just QR 223 million, demonstrating an increase of 8%. Nakilat is the shipping arm of Qatar’s LNG sector, and the increase in profit reflects the company’s growth in operating activities in transporting LNG, as well as improved performance of its LPG ships.
The Managing Director of Nakilat, Eng. Abdullah Fadhalah Al Sulaiti, said: “We are happy with the company’s achievements. Our strategy remains unchanged, and we are concentrating on maintaining a strong portfolio, investing in more efficient technology, and delivering the best results for our investors.
“Total company revenue of QR906 million has gone up by 4% compared to same period of last year.
“Given of the downturn in the energy market and its corresponding impact on Nakilat’s business outlook, we have managed our company’s operations by emphasising the importance of identifying efficiencies where possible.”
Edited from press release by David Rowlands
Read the article online at: https://www.lngindustry.com/lng-shipping/20042016/nakilats-profits-increase-2318/