Nakilat Reports Record Yearly Profit
Feb 8, 2021 11:45:am
Summary
by: Shardul Sharma
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Nakilat Reports Record Yearly Profit
State-owned Qatar Gas Transport Company (Nakilat) has reported a 15.7% year/year increase in its net profit for the 12 months ending December 31, it said on February 7.
The company’s net profit last year was riyal 1.16bn ($320mn), compared with riyal 1bn in the previous year. Revenue for the year was riyal 4.01bn, up 3.4% yr/yr.
“The outstanding financial performance in 2020 is a testament to the company’s defensive business model and concerted efforts, which includes the safe completion of the second phase fleet management transition involving 7 LNG carriers, delivery of 2 Megi LNG newbuilds, as well as the first FSRU transition to NSQL-management,” the company said.
LNG shipping stocks: Weakening
The UP World LNG Shipping Index, the world’s only stock index focused on companies in the LNG shipping industry, lost 3.56 points, or 4.35%, last week. US stocks represented by the S&P 500 (SPX) index gained 1.94%.
Last week was the opposite of the previous week and the two indices thus balanced. US-listed LNG shipping companies weakened the most. Shares of GasLog Ltd. lost almost 20%, which was an abnormally high decline.
On the contrary, very few shares went up, in fact only four: Exmar NV (EXM.BR, +3.5%), SM KLC (005880.KS, +2.3%), Qatar Gas Transport Company Ltd. (QGTS.QA, +1.8%), and Nippon Yussen Kabushiki Kaisha (9101.T, +1.7%).
QE Index soars over 200 points last week
15 Jan 2021 - 9:43
Sachin Kumar | The Peninsula
Shares had a good run last week with Qatar Stock Exchange (QE) Index soared around 235 points or 2.2 percent in the past five trading sessions. On Thursday, the QE Index gained 47.22 points or 0.43 percent to close at 10,913.83 points. Indices of five sectors ended in green zone and two sectors ended red zone today. The volume of shares traded decreased to 219 million from 270 million on Wednesday and the value of shares decreased to QR546.8m from QR814.1m on Wednesday.
It was a remarkable week for the bourse as Shares of QLM were listed on the QSE on Wednesday, taking the total number of companies listed on the exchange to 48. QLM made a strong debut on the bourse as its share surged around 24 percent on the first day of trading at the Qatar Stock Exchange driven by strong investors demand.
Shares surge amid healing of GCC rift
06 Jan 2021 - 9:24
Sachin Kumar/ The Peninsula
Qatar’s stock market celebrated the news of agreement between Qatar and Saudi Arabia to open airspace, land and sea borders as shares witnessed a sharp surge yesterday. The Qatar Stock Exchange (QE) Index jumped 141 points or 1.35 percent to close at 10,618.39 points, yesterday.
The rally in the bourse was comprehensive as all the sectoral indices ended in the green.
Foreign Minister of the State of Kuwait, H E Sheikh Dr. Ahmed Nasser Al Mohammad Al Sabah announced on Monday night that the Kingdom of Saudi Arabia and the State of Qatar reached an agreement to open airspace as well as land and sea border starting tonight.