Qatar Shipping H1 profit declines 58% to $43.6 million
Qatar Shipping Co., a marine freight transportation company which plans to merge with Qatar Navigation, said first-half profit dropped 58 percent, without providing a reason for the decline. Net income fell to 158.6 million riyals ($43.6 million), or 1.44 riyals a share, from 375 million riyals, or 3.41 riyals, in the year-earlier period, according to a company statement today on the Doha bourse Web site.
Qatar Navigation and Qatar Shipping, the country’s biggest marine-freight transport companies, said in July the evaluation process of a planned merger is proceeding on track. The proposed merger announced on May 7 is being overseen by a steering committee chaired by Mohammed Al Sherawi, Qatar Petroleum’s director of finance.
Qatar Navigation and Qatar Shipping, the country’s biggest marine-freight transport companies, said in July the evaluation process of a planned merger is proceeding on track. The proposed merger announced on May 7 is being overseen by a steering committee chaired by Mohammed Al Sherawi, Qatar Petroleum’s director of finance.