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.
| 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 % |
| Item | Q4 2019 | Q1 2020 | Change |
|---|---|---|---|
| Revenues | 1,939.40 | 2,082.18 | 7.4 % |
| Gross Income | 464.58 | 561.35 | 20.8 % |
| Operating Income | 377.75 | 498.88 | 32.1 % |
| Net Income | 249.08 | 419.22 | 68.3 % |
| Average Shares | 738.28 | 738.28 | - |
| EPS (Riyals) | 0.34 | 0.57 | 68.3 % |
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