Qatar’s Nakilat reports growth in income in 2Q 2023: Qatari liquefied natural gas (LNG) shipping company Nakilat reported an 8.9% y-o-y increase in its bottomline to QAR 379 mn during 2Q 2023,according to its financials (pdf). The company’s topline during the period recorded a 9.1% y-o-y rise to QAR 1.17 bn. The company saw a 6.1% y-o-y jump in net income to QAR 774.9 mn during 1H 2023, while revenues rose 6.8% y-o-y to QAR 2.29 bn.

Net income and revenues were boosted by strong results from LNG, LPG and shipyard joint ventures as well as improved performance in shipyard, according to the earnings presentation (pdf). This helped counterbalance expenses, which rose 7.3% y-o-y in 1H 2023 on the back of a 9.6% y-o-y increase due to higher average variable interest rates on the unhedged portion of debt.

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