Riyadh – Mubasher: The net profits of the National Shipping Company of Saudi Arabia (Bahri) reached SAR 1.61 billion in 2023, higher by 55% than SAR 1.04 billion in 2022.
Revenues hiked by 2.27% to SAR 8.77 billion last year from SAR 8.58 billion as of 31 December 2022, according to the interim financial results.
The earnings per share (EPS) amounted to SAR 2.19 in 2023, marking an annual rise from SAR 1.41.
Income Statements for Q4-23
In the fourth quarter (Q4) of 2023, Bahri posted an annual plunge of 30.59% in net profit to SAR 401.23 million, compared to SAR 578.12 million.
The Saudi firm generated sales valued at SAR 2.023 billion in Q4-23, down 25.54% year-on-year (YoY) from SAR 2.717 billion.
On a quarterly basis, the Q4-23 net profits surged by 78.84% from the SAR 224.34 million registered in Q3-23, while the revenues edged down by 0.15% from SAR 2.026 billion.
