Nakilat, the world’s largest Liquefied Natural Gas (LNG) fleet operator, achieved a net profit of QR 382 million for the first quarter ended March 31, 2022, compared to QR 320.1 million during the same period in 2021, an increase of 19.3%.
Eng. Abdullah Al Sulaiti, Chief Executive Officer, Nakilat, said: “We are very pleased to report a stellar earnings result for the first quarter 2022, which reiterates the resilient business model that Nakilat has built over the years. Against the current backdrop of global economic environment and the long-term needs for diversified, secure and reliable energy transportation solutions, Nakilat will continue to grow its assets portfolio and generate sustainable return for its shareholders.”
Another leading Qatari shipping firm, Qatar Navigation (Milaha) has also released impressive financial results, achieving operating revenues of QAR 913 million for the three months compared to QR 675 million for the same period in 2021. Its operating profit of QAR 194 million, compared to QAR 131 million for the same period in 2021, while net profits were QAR 360 million for the three months, compared to QAR 297 a rise of 21 per cent.
Milaha Maritime & Logistics’ net profit increased by QAR 46 million on the back of continued strong container shipping rates, while Milaha Gas & Petrochem’s net profit increased by QAR 21 million, mainly as a result of higher income from associate companies.