Nakilat Announces QR 847 Million Profit for 2017

Doha, February 25 (QNA) - Nakilat announced its financial results for the year ended 31 December 2017, with a net profit of QR 847 million. The earnings per share attained in 2017 was QR 1.53. The net profit achieved in the fourth quarter of 2017 was higher than that achieved in the third quarter of 2017 and fourth quarter of 2016, by 21 percent and 16 percent respectively. Nakilat's Board of Directors commended the company's steady financial results notwithstanding the challenging business environment, a reflection of the company's strength and resilience. Complemented by strategic long-term agreements with well-established charterers, Nakilat managed to maintain steady cash flow and generate positive value for its shareholders. The board recommended distributing cash dividends to the shareholders equal to 10 percent of the nominal value of its capital, which is equivalent to QR 1 per share. The board of directors also decided to convene the annual general meeting on Tuesday, March 20, 2018. (QNA)