Milaha, the former Qatar Navigation, has seen full-year net profit shrink by 35%, according to figures released over the weekend.
The Doha-based shipowner said net income was QAR 755m ($207.3m) versus the QAR 1.1bn seen in the previous 12 month period.
Operating revenue for the year QAR 2.5bn, a year-on-year decline of 16.2% on the QAR 2.9bn reported the previous year.
Milaha Maritime & Logistics’ net profit for 2016 fell by 45% to QAR 144m mainly as a result of lower revenue from its port services unit and rate pressure at its containership arm.
Milaha
