The profit was a 30% year on year increase from the QR441m reported in the first half of 2012. Operating profit also rose sharply to QR440m, a 39% increase on H1 2012's QR316m.
Operating revenues at the company rose to QR1.2bn in 2013, the highest the company has ever recorded, up from QR1.1bn in the same period of 2012.
Milaha attributes the significant increase in performance at its maritime and logistics arm to a steady increase in import and export volumes in Qatar, while Milaha Offshore benefited from improved utilisation of diving and construction vessels and the deployment of two new vessels in the joint-owned Halul fleet.
"The group's performance has continued strongly from the end of last year and throughout the first half of this year," said Sheikh Ali bin Jassim Al Thani, chairman and managing director of Milaha. "I'm pleased that we have been able to maintain good momentum overall and generate our highest revenues to date, even though the markets are still volatile or yet to recover in some of our core segments."
"We are focusing hard on driving sustainable improvements in a number of areas across our business," added Khalifa Ali Al-Hetmi, president and ceo, "the results are partially a reflection of these efforts as well, and we will continue to look for ways to optimise our operations regardless of market conditions."
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