Bahri's net profit rises 29% in FY19

29/01/2020 Argaam Exclusive

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National Shipping Company of Saudi Arabia's (Bahri) net profit rose 28.98% year-on-year (YoY) to SAR 620.7 million for fiscal year 2019, due to higher operating income and lower share of losses from associates.

Financials (M)

Item	2018	2019	Change‬
Revenues	6,129.91	6,567.02	7.1 %
Gross Income	1,246.98	1,427.00	14.4 %
Operating Income	1,077.47	1,194.08	10.8 %
Net Income	481.24	620.70	29.0 %
Average Shares	738.28	738.28	-
EPS (Riyals)	0.65	0.84	29.0 %

Q4 2019 net profit after zakat and tax more than doubled YoY to SAR 249.08 million, driven by higher operating revenue, increased transportation fees, and lower financing expenses.

When compared to the previous quarter, net profit hiked by 69.75%.

Current Quarter Comparison (M)

Compared With The

Item	Q4 2018	Q4 2019	Change‬
Revenues	1,781.70	1,939.40	8.9 %
Gross Income	404.86	464.58	14.8 %
Operating Income	378.65	377.75	(0.2 %)
Net Income	91.41	249.08	172.5 %
Average Shares	738.28	738.28	-
EPS (Riyals)	0.12	0.34	172.5 %

Item	Q3 2019	Q4 2019	Change‬
Revenues	1,481.56	1,939.40	30.9 %
Gross Income	296.11	464.58	56.9 %
Operating Income	240.74	377.75	56.9 %
Net Income	146.73	249.08	69.8 %
Average Shares	738.28	738.28	-
EPS (Riyals)	0.20	0.34	69.8 %

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