Mubasher: Qatar Gas Transport (Nakilat) reported an 8.11% year-on-year profit increase for the third quarter of 2018.
Net profits amounted to QAR 213.54 million in Q3-18, compared to QAR 197.51 million in Q3-17, according to a filing to the Qatar Stock Exchange (QSE) late Sunday.
The increase in third-quarter profits was attributed to the company’s strategic long-term plan to diversify and seek business opportunities with minimal risk, as well as through effective cost optimisation initiatives across its integrated operations.
For the first nine months of 2018, Nakilat’s profits rose to QAR 658.2 million, versus 606.4 million in the same period the year before.
Earnings per Share (EPS) registered QAR 1.19 for the nine-month period ended September, from QAR 1.09 for the same period of the previous year.
“Nakilat’s improved financial performance bears testament to the company’s ongoing emphasis on enhancing efficiency, increasing productivity and pursuing growth strategies, without compromising safety and quality across all our integrated operations,” Abdullah Fadhalah Al Sulaiti, CEO of Nakilat, said.
It is worth noting that the company’s profits advanced 4.8% to QAR 444.66 million during the first half of 2018, versus QAR 408.89 million in H1-17.
By 10:01 am Qatar time, Nakilat’s stock stood at QAR 17.68.
