Milaha Reports QR724 Million in Net Profit for 2021

Qatar Navigation (Milaha)

Qatar Navigation (Milaha), a Qatari shareholding company, announced Wednesday its financial results for the twelve months ended Dec. 31, 2021, revealing a net profit of QR 724 million, compared to QR 59 million for the same period in 2020.

The company announced in a statement Earnings Per Share of QR 0.64 for the year ended Dec. 31, 2021, compared to QR 0.05 for the same period in 2020.

The Board of Directors decided to recommend to the General Assembly to distribute a 30% cash dividend of the par value of a share, equivalent to QAR 0.30 per share, representing a payout ratio of 47% of 2021 net profit.

Commenting on the companys financial and operational performance, HE Chairman of the Board of Directors of Milaha Sheikh Jassim bin Hamad bin Jassim Jaber Al-Thani said that Milaha displayed strength and resilience in response to the global challenges and business disruptions faced in 2021, noting that the focus on core business was demonstrated in strong performance, on both financial and operational levels.

Milaha was founded in 1957 with a capital of 1.136 billion riyals.

QNA