Nakilat Q4 profit rises 12.1pc
DOHA, February 19, 2016
Qatar Gas Transport Co (Nakilat), a leading shipper of liquefied natural gas, posted a 12.1 per cent rise in fourth-quarter net profit on Thursday, according to Reuters calculations.
The company made a net profit of QR226 million ($62 million) in the three months ending December 31, Reuters calculated using Nakilat's annual financial statements in lieu of a quarterly earnings breakdown.
This was up from a profit of QE201.55 million in the same period of the previous year but lower than the QR271.1 million riyals which QNB Financial Services forecast Nakilat would make in the fourth quarter.
The company, which was added to MSCI's emerging markets index at the end of November, made a net profit of QR982.3 million in 2015, up from QR893.6 million in 2014, it said in a statement.
It cited the positive impact of three LNG vessels added in 2015 as well as full utilisation of vessels bought in the previous year. Cost cutting and lower finance costs also contributed to higher earnings.
Nakilat also said its board proposed paying a cash dividend for 2015 of 12.5 per cent, equivalent to QR1.25 per share. The figure is marginally better than 2014 when it paid QR1.2.
The company said it would exploit future opportunities to acquire new business opportunities, without elaborating. - Reuters
