Riyadh – Mubasher: The net profits after Zakat and tax of the National Shipping Company of Saudi Arabia (Bahri) hit SAR 987.87 million in the first half (H1) of 2023.

The generated net profits hiked by 412.06% year-on-year (YoY) from SAR 192.92 million, according to the initial financial statements.

During the six-month period that ended on 30 June 2023, the revenues hiked by 32.33% to SAR 4.72 billion from SAR 3.57 billion in H1-22.

Earnings per share (EPS) amounted to SAR 1.34 in H1-23, an annual growth from SAR 0.26.

Financial Results for Q2-23

Bahri registered net profits after Zakat and tax valued at SAR 495.38 million in the second quarter (Q2) of 2023, an annual leap of 286.95% from SAR 128.02 million.

The company’s revenues stood at SAR 2.35 billion in the April-June 2023 period, up 18% from SAR 1.99 billion a year earlier.

On a quarterly basis, the Q2-23 net profits edged up by 0.59% from SAR 492.49 million in Q1-23, while the revenues inched down by 0.97% from SAR 2.37 billion.