Nakilat has reported an 8% growth in net profit to QR240mn in the first three months of this year.
The increase in the company’s profits reflects the strong growth of Nakilat’s operating activities in transporting liquefied natural gas, and better performance of its liquefied petroleum gas vessels, said its spokesman.
“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,” Nakilat managing director Abdullah Fadhalah al-Sulaiti said.
The company strategy involves exploring new business opportunities by acquiring new vessels that serve the international maritime industry. Nakilat is also continually assessing current investments in relation to profitability in order to address any risk involved for the company and its shareholders, it said.
Total revenue expanded 4% to QR906mn in the first quarter of this 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,” al-Sulaiti said.
Nakilat’s commitment to safety is the cornerstone of its business activities with a strong emphasis throughout its joint ventures. The company is confident of achieving higher growth in all aspects of operations, which will fulfil its ambitious future plans in line with the Qatar National Vision 2030, the spokesman said.