Riyadh – Mubasher: National Shipping Company of Saudi Arabia (Bahri) has reported a 29% year-on-year profit increase during the fiscal year 2019.

The company’s net profit after zakat and tax hiked to SAR 620.7 million in 2019, compared to SAR 481.24 million in the year-ago period, according to a bourse statement released on Wednesday.

Revenue increased by 7.13% to SAR 6.567 billion last year, from SAR 6.13 billion a year earlier.

Moreover, total shareholders’ equity, after deducting minority equity, declined by 1.76% YoY to SAR 9.2 billion.

It is noteworthy that Bahri’s net profit after zakat and tax hiked by 80.5% to SAR 146.73 million in Q3-19, compared to SAR 81.28 million in Q3-18.