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Qatari shipper Nakilat Q2 net profit gains 12.3 pct

The company made a net profit of $73.6 million in the three months ending June 30

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Qatar Gas Transport Co (Nakilat), one of the world's largest shippers of liquefied natural gas, posted a 12.3 percent increase in second-quarter net profit on Tuesday, according to Reuters calculations.

The company made a net profit of 267.8 million riyals ($73.6 million) in the three months ending June 30, Reuters calculations showed, using financial statements in lieu of a quarterly earnings breakdown.

This is up from 238.4 million riyals a year earlier, while it exceeded the forecast of 259.1 million riyals made by QNB Financial Services.

Nakilat recorded a net profit in the first six months of 2015 of 490.2 million riyals, up from 444.9 million riyals in the corresponding period of last year, it said in a statement.

It cited its strategic development and the success of its joint ventures for reasons behind its performance, and added it was in a good position to face oil price fluctuations because its ships are on long-term charter hires.