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Nakilat reports net profit of QR847mn in 2017

Doha – Nakilat held its annual general meeting (AGM) chaired by Ahmad Saif Al Sulaiti, Vice Chairman of Nakilat’s Board of Directors.

During the AGM, the group’s financial results were approved for the year ended December 31 2017, of which the company achieved a net profit of QR 847mn in 2017. All items on the agenda were also ratified during the AGM, including the proposal by the Board of Directors to distribute cash dividends to shareholders equal to 10% of the nominal value of its capital, which is equivalent to “one Qatari Riyal” per share.

Al Sulaiti highlighted that in 2017, Nakilat proved its resilience by successfully deploying strategic steps towards maintaining its global leadership in LNG transportation, and integral role it plays in Qatar’s LNG supply chain. The company reaffirmed its commitment to business excellence by taking calculated measures to ensure no interruptions or impact to its worldwide operations and has not missed a single shipment worldwide even under the unjust blockade imposed on Qatar by neighboring countries and challenges of the global energy industry.

Nakilat Chief Executive Officer Eng. Abdullah Fadhalah Al Sulaiti said: “Nakilat’s steady financial results is a true reflection of company’s strength and resilience. Notwithstanding the challenging business environment, the company successfully capitalised on profitable growth opportunities and pursued cost optimisation initiatives to achieve cost efficiency.

Nakilat’s Board of Directors expressed their deepest gratitude to Emir H H Sheikh Tamim Bin Hamad Al Thani and Father Emir H H Sheikh Hamad bin Khalifa Al Thani, for their strong leadership and continuous support that has enabled Nakilat’s growth into a diversified shipping and maritime company that significantly contributes towards the development of Qatar’s maritime as well as oil and gas sector. The Board of Directors also extended their appreciation to Qatar Petroleum (QP) for its ongoing support of Nakilat’s activities, QP Industrial Cities for its co-operation with the Erhama Bin Jaber Al Jalahma Shipyard, as well as Nakilat’s partners, shareholders, management and employees for their continued dedication and support.

 

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