Bahri Reports 1H Growth

Maritime Activity Reports, Inc.

July 24, 2019

Photo: Bahri

Photo: Bahri

The National Shipping Company of Saudi Arabia (Bahri) has posted revenues‏ ‏of SAR‏3.14 billion ($840million) for the first half of 2019, despite regional difficulties.

The Riyadh-based transportation and logistics company reported revenue growth of six percent for the first half and income growth of three percent, to SAR 581.47 million.

Net income reached SAR 224.9 million ‎during the first six months of 2019 in comparison to SAR 308.54 million‎ of the same period last year. Earnings per share for the first half of 2019 reached SAR 0.57 compared to SAR 0.78 for the same ‎period last year.‎

Abdullah Aldubaikhi, CEO, Bahri, said: “The financial results achieved for the first half of 2019 reflect the difficulties that the region is going through, which impacted the whole maritime shipping industry. Despite all these challenges, Bahri continues with its efforts to improve operations, adapt to the new developments and changes in the maritime industry, and maintain shareholder interest."

Bahri’s revenues from the oil transportation business unit grew by 8% in the first six months of 2019 compared to the same period last year. Revenues from the remaining business units recorded a growth of 5% in comparison to the same period last year.

Maritime Reporter Magazine Cover Aug 2019 - The Shipyard Edition

Maritime Reporter and Engineering News’ first edition was published in New York City in 1883 and became our flagship publication in 1939. It is the world’s largest audited circulation magazine serving the global maritime industry, delivering more insightful editorial and news to more industry decision makers than any other source.

Subscribe
Maritime Reporter E-News subscription

Maritime Reporter E-News is the subsea industry's largest circulation and most authoritative ENews Service, delivered to your Email three times per week

Subscribe for Maritime Reporter E-News