Riyadh – Mubasher: National Shipping Company of Saudi Arabia (Bahri) has achieved an annual surge of 48.98% in net profits after tax to SAR 64.9 million during the first quarter (Q1) of 2022, compared to SAR 43.56 million.

Earnings per share stood at SAR 0.16 in Q1-22, up from SAR 0.11 in the same period a year earlier, according to the initial financial results.

Bahri recorded SAR 1.57 billion in revenue during Q1-22, a rise of 32.78% from SAR 1.18 billion in Q1-21.

On a quarterly basis, the net profits in Q1-22 were 29.44% lower than SAR 91.98 million in Q4-21, while the revenues soared by 2.10% from SAR 1.54 billion.

In 2021, Bahri posted a drop to SAR 192.43 million in net profits, compared to SAR 1.57 billion in 2020.