Riyadh – Mubasher: National Shipping Company of Saudi Arabia (Bahri) posted a 93% decline in net profits after Zakat and tax to SAR 82.47 million in the first half (H1) of 2021 from SAR 1.17 billion in H1-20.
Earnings per share amounted to SAR 0.21 in H1-21, down from SAR 3 in H1-21, according to the financial results on Tuesday.
Revenues plunged 55.7% to SAR 2.48 billion in H1-21 from SAR 5.61 billion in H1-21.
During the second quarter (Q2) of 2021, Bahri posted a decline of 94.8% in net profits to SAR 38.91 million from SAR 760.61 million in Q2-21.
Revenues shrank by 63% to SAR 1.29 billion in Q2-21 from SAR 3.53 billion in Q2-20.
On a quarterly basis, the net profits in Q2-21 were 10.6% lower than SAR 43.56 million in Q1-21. The revenues meanwhile increased by 8.8% from SAR 1.18 billion.
