Financial Results : Bahri’s net profit more than doubles in Q1 2020

Bahri’s net profit more than doubles in Q1 2020

22/04/2020 Argaam Exclusive

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National Shipping Company of Saudi Arabia’s (Bahri) net profit after Zakat and tax surged 134% year-on-year (YoY) to SAR 419.2 million in the first quarter of 2020.

 

The strong performance was driven by higher returns from operating segments due to increase in transportation rates and voyages, decline in financing expenses and recognition of profit from associates.

The Q1 2020 net profit after Zakat and tax jumped 68% compared to Q4 2019, thanks to increase in returns from operating segments and profit recognition from associates.



Current Quarter Comparison (M)

Compared With The
Item Q1 2019 Q1 2020 Change‬
Revenues 1,705.77 2,082.18 22.1 %
Gross Income 426.18 561.35 31.7 %
Operating Income 373.20 498.88 33.7 %
Net Income 179.33 419.22 133.8 %
Average Shares 738.28 738.28 -
EPS (Riyals) 0.24 0.57 133.8 %

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