Bahri ends H1 2019 with revenue Of SAR 3.14 billion

Bahri, a worldwide pioneer in logistics and transportation, has announced growth in incomes and operating income for the first six months of 2019. Revenues reached SAR 3.14 billion and operating income SAR 581.47 million, recording an boost of 6% and 3% respectively compared to the same period last year.

Net income gain reached SAR 224.9 million during the first six months of 2019 in comparison to SAR 308.54 million of the same period a year ago. Income per share for the first half of 2019 reached SAR 0.57 compared to SAR 0.78 for the same period last year.

Remarking on the outcomes, Abdullah Aldubaikhi, CEO, Bahri, stated: The financial outcomes accomplished for the first half of 2019 mirror the challenged that the region is experiencing, which impacted the whole maritime shipping industry. Despite all these challenges, Bahri proceeds with its endeavours to improve operations, adapt to the new developments and changes in the maritime industry, and maintain shareholder interest. Bahri stayed committed to its innovative programs and cost-proficient initiatives that contributed to facilitating the impact on the financial results for the period.

Bahris revenues from the oil transportation business unit developed by 8% in the first six months of 2019 compared to the same period last year. Income from the remaining business units recorded a growth of 5% in comparison to the same period last year.