Riyadh – Mubasher: The net profits after Zakat and tax of National Shipping Company of Saudi Arabia (Bahri) slipped by 87.75% to SAR 192.43 million in 2021, compared to SAR 1.57 billion in the earlier year.

The company generated revenues of SAR 5.35 billion in 2021, down 36.24% from SAR 8.39 billion in 2020, according to a bourse filing on Monday.

The earnings per share (EPS) stood at SAR 0.49 last year, versus SAR 3.99 in 2020.

During the fourth quarter (Q4) of 2021, the company's net profits rose by 18.6% to SAR 91.98 million from SAR 77.54 million in the year-ago period.

It is noteworthy to mention that during the first nine months (9M) of 2021, Bahri registered a 93% year-on-year (YoY) plunge in net profits to SAR 100.46 million from SAR 1.49 billion.