Qatar Navigation Q3 Profit Up 1.8%

Qatar Navigation (Milaha) reported a 1.8 percent rise in third-quarter net profit on Sunday, in line with analysts' estimates.

The shipper's net profit was 308 million riyals ($84.6 million) for the three months to Sept. 30, up from 302.5 million riyals in the year-ago period, according to Reuters calculations based on its financial statements.

QNB Financial Services had forecast Qatar Navigation would make a third-quarter profit of 307.6 million riyals.

The firm made a net profit of 959 million riyals in the first nine months of this year, compared with 820.8 million riyals in the year-ago period.

The shipping firm in September appointed Abdulrahman Essa Al-Mannai as president and chief executive.

(Reporting by Hadeel Al Sayegh; Editing by Andrew Torchia)