Riyadh – Mubasher: The National Shipping Company of Saudi Arabia (Bahri) saw a 153.1% annual surge in its net profit for the year 2020 at SAR 1.57 billion.

This jump was supported by an increase in revenue from several operating segments and a drop in financing expenses, according to a stock exchange statement on Sunday.

Lending further support to the profit hike was recording profits in the group's share of results in equity accounted investee companies compared to losses realised a year earlier.

The company’s revenue advanced by 27.8% in 2020 to SAR 8.39 billion, compared to SAR 6.57 billion in 2019.