National Shipping Company of Saudi Arabia (Bahri) reported a net profit after Zakat and tax of SAR 1.179 billion for the first half of 2020, an increase of more than five-fold year-on-year (YoY), driven by lower cost of finance, and profit share from associates.
| Item | 6m 2019 | 6m 2020 | Change |
|---|---|---|---|
| Revenues | 3,146.05 | 5,614.61 | 78.5 % |
| Gross Income | 666.31 | 1,523.96 | 128.7 % |
| Operating Income | 571.37 | 1,418.48 | 148.3 % |
| Net Income | 224.90 | 1,179.83 | 424.6 % |
| Average Shares | 738.28 | 738.28 | - |
| EPS (Riyals) | 0.30 | 1.60 | 424.6 % |
The company’s net profit after Zakat and tax for the second quarter stood at SAR 760.6 million, compared to SAR 45.57 million in year-earlier period, due to higher returns from business divisions, the growth in the oil segment and higher transport rates.
On a quarter-on-quarter basis, the profit for the current quarter increased by 81.43%.
| Item | Q2 2019 | Q2 2020 | Change |
|---|---|---|---|
| Revenues | 1,440.28 | 3,532.43 | 145.3 % |
| Gross Income | 240.13 | 962.62 | 300.9 % |
| Operating Income | 198.17 | 919.60 | 364.0 % |
| Net Income | 45.57 | 760.61 | 1569.0 % |
| Average Shares | 738.28 | 738.28 | - |
| EPS (Riyals) | 0.06 | 1.03 | 1569.0 % |
| Item | Q1 2020 | Q2 2020 | Change |
|---|---|---|---|
| Revenues | 2,082.18 | 3,532.43 | 69.7 % |
| Gross Income | 561.35 | 962.62 | 71.5 % |
| Operating Income | 498.88 | 919.60 | 84.3 % |
| Net Income | 419.22 | 760.61 | 81.4 % |
| Average Shares | 738.28 | 738.28 | - |
| EPS (Riyals) | 0.57 | 1.03 | 81.4 % |
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