Bahri's Q2 net profit meets Albilad Capital estimates

23/07/2015 Argaam

National Shipping Company of Saudi Arabia's (Bahri) Q2 net profit (SAR 342.4 million) was in line with Albilad Capital's forecasts at SAR 350 million, the brokerage firm said in a report.

 

Bottom line was bolstered by Bahri's merger with Vela International Marine Limited and improved oil prices.

 

The investment arm of Bank Albilad raised the stock's fair value to SAR 57.40, and affirmed its “overweight” rating.   

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