Qatar Navigation first quarter earnings down 3.5%

Source:  http://www.thepeninsulaqatar.com/

Doha: Qatar Navigation announced Sunday first quarter profits of QR 352 million, down from the QR365 million achieved during the same period of last year.

The Earnings per Share was QR 3.10 for the first quarter of 2016, three months’ period ended March 31, 2016 compared to EPS of QR 3.21 for the same period of 2015.

Operating revenues decreased by 1.9% to QAR 771 million for the three months ended March 31, 2016, down from QR 786 million for the same period in 2015.

Revenue of maritime and logistics declined by 2% and net profit by 22%, partially due to increased pressure on pricing, particularly in the container feeder business. More info

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