Operating income for the this period increased by 3% compared to the same period last year
Bahri has reported growth in revenues and operating income for the first six months of 2019. Revenues reached SAR 3.14bn (US$ 838mn) and operating income SAR 581.47mn US$ 155.11mn), recording an increase of 6% and 3% respectively compared to the same period last year.
Net income reached SAR 224.9mn (US$ 60mn) during the first six months of 2019 in comparison to SAR 308.54mn (US$ 82.31mn) of the same period last year.
“Despite all the challenges impacting the maritime shipping industry, Bahri continues with its efforts to improve operations, adapt to the new developments and changes in the maritime industry, and maintain shareholder interest,” said Abdullah Aldubaikhi, CEO, Bahri.
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.
