Profits at Milaha plunged by more than 50% in the six months of 2017, with the tough market environment hurting Qatar’s state-owned shipping company.
Its ports and container shipping segment, Milaha Maritime & Logistics, suffered a 61% decline in net profit of QR46m (US$13m) in its first results since the regional blockade by several Gulf countries was enforced in early June.
The company attributed this drop to “continued pricing pressure in container shipping and lower profits from our ports business.”
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