Nakilat strong in Q3

nakilat

Nakilat posted a net profit of QR749 million ($205.6 million) during the third quarter ended September 30, compared to QR757 million ($207.8 million) for the same period last year.

The board of directors said that the company’s strategic long-term charters for its LNG vessels and the strong LPG vessels performance have ensured the continuous strong financial profitability despite the current market conditions of fluctuating oil and gas prices and the slowdown in ship repair and building activities, said a statement from the company.

The board also reaffirmed its commitment to Nakilat’s growth and development strategy, in line with Qatar’s National Vision 2030, it said.

Eng Abdullah Fadhalah Al Sulaiti, managing director, Nakilat, said: “Our company’s resilient financial performance, despite the current economic climate, is attributed to the prudence and effectiveness of our long-term business strategies.

“We are actively seeking out new business opportunities to grow our business portfolio and maximise returns for our shareholders,” he said.

“Our joint ventures continue to value-add to our operations, strengthening our ambition to be a global leader and provider of choice for energy transportation and maritime services,” he concluded.

[tradearabia]

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