Key financial highlights, included:
*Operating revenues increased by 14% to QAR2.998 bill for the 12 months ended 31st December, 2015, up from QR2.633 bill for 2014.
*Operating profit increased by 18% to QAR772 mill for, up from QR656 mill in 2014.
*Net profit increased by 4% to QAR1.095 bill in 2015, up from QR1.049 bill for the previous year.
As for its shipowning subsidiary, Milaha Gas & Petrochem, its revenue grew by 51% and net profit by 6%, on the back of strong performance from its fully-owned and operated product tankers and gas carriers, as well as investments in associates.
“Despite an increasingly challenging business environment, 2015 was another good year for Milaha. Our core operations have performed exceptionally well, posting double-digit revenue growth, as well as positive net profit growth,” said chairman HE Sheikh Ali bin Jassim Al Thani.
“Given the low oil price environment and the weakening global economic environment, the medium term holds a number of significant challenges for the industries in which we operate,” he added. “However, we are confident that the foundation we have laid in the past few years will enable us not only to withstand the current headwinds, but also position us for sustainable future growth.”