Home Industry Energy Qatar’s Nakilat Q4 Profit Falls 13% The company made a fourth-quarter profit of 176.5 million Qatar riyals ($48.5 million), down from 203.3 million riyals a year earlier. by Reuters February 25, 2014 Qatar Gas Transport Co (Nakilat), one of the world’s largest shippers of liquefied natural gas, posted a 13 percent drop in fourth-quarter net profit on Tuesday. The company made a fourth-quarter profit of 176.5 million Qatar riyals ($48.5 million), down from 203.3 million riyals a year earlier, according to Reuters calculations based on its financial statements. QNB Financial Services had forecast Nakilat would make a quarterly profit of 201 million riyals. Nakilat posted a 2013 net profit of 729 million riyals, compared with a profit of 765.5 million riyals in 2012, it said. The company blamed the full-year profit drop on a 25.7 million riyal loss from a joint venture’s derivative instrument; it said the loss was for accounting purposes and “does not affect the economics of the derivative transactions nor the cash flows or liquidity of the company”. It made a derivatives gain of 19.5 million riyals in 2012. Nakilat proposed an 11 per cent cash dividend. 0 Comments