Mubasher: Qatar Navigation (Milaha) posted a 9.7% profit increase during the full-year 2018, logging QAR 516 million, from QAR 470 million in 2017.

Milaha’s operating revenues dropped to QAR 2.4 billion during the 12-month period ended 31 December 2018, compared to QAR 2.5 billion for the year-ago period, the Qatari firm said in a statement to the Qatar Stock Exchange (QSE) on Monday.

In addition, the company’s operating profit declined to QAR 397 million last year, against QAR 448 million in 2017.

Earnings per share (EPS) registered QAR 4.54 in 2018, versus QAR 4.14 in the prior year.

The Qatari firm's board of directors recommended a cash dividend distribution of 30% of the share’s nominal value, or QAR 3 per share.

Milaha’s stock fell 1.04% to close at QAR 66.08 on Tuesday.