Nakilat Q1 net profit jumps more than 13% to QR217mn

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Nakilat has managed to achieve positive results across its operations through rationalisation of operational costs and enhanced operational efficiency

Nakilat has reported more than 13% year-on-year growth in net profit to QR217mn in the first quarter of this year. The company has managed to achieve positive results across its operations through rationalisation of operational costs, enhanced operational efficiency, and growth of international portfolio through the recent expansion with Maran Gas Ventures to include two additional liquefied natural gas (LNG) carriers.

This most recent strategic alliance further strengthens Nakilat’s fleet to a total of 69 vessels. Nakilat’s board attributed this robust performance as a reflection of the company’s strength and resilience supported by cost-effective and reliable business operations. Nakilat has managed to maintain a steady cash flow and generate positive value for its shareholders, by capitalising on profitable business growth.

During the first quarter, Nakilat successfully deployed the company’s strategic plans towards maintaining its global leadership in LNG transportation and the integral role it plays in Qatar’s LNG supply chain. Nakilat has earned 5-star rating, which is the highest attainable, in the comprehensive Occupational Health and Safety audit by British Safety Council (BSC). Nakilat is also the first company in Qatar to be certified for new ISO 45001:2018 Occupational Health and Safety Management System standard by Lloyd’s Register Quality Assurance.

Sources and photo-credits: Gulf Times