Riyadh – Mubasher: National Shipping Company of Saudi Arabia (Bahri) disclosed its interim financials for the third quarter of 2019.
Net profits after zakat and tax hiked by 80.5% to SAR 146.73 million in Q3-19, compared to SAR 81.28 million in Q3-18, according to a bourse filing on Monday.
The company attributed the rise in profits to the increase in returns of several operating segments powered by the growth in the logistics services sector, in addition to the growth in shares in results of associates and the gain on disposal of property and equipment during the current quarter.
on a yearly basis, revenues of the Saudi-based firm increased by 6.2% to SAR 1.48 billion during the three-month period between July and September.
For the first nine months of 2019, net profits of Bahri retreated by 4.67% to SAR 371.62 million, from SAR 389.83 million in the same period of the previous year.
The company generates SAR 4.62 billion in revenues by the end of September, compared to SAR 4.34 billion in the corresponding period a year ago.
Profit per share stood at SAR 0.94 in nine months, against SAR 0.99 in the same period the year before.
