The reason of the increase (decrease) in the net profit during the current quarter compared to the same quarter of the last year is
The main reason for the increase in net profit during the current quarter compared to the same quarter of last year is:
– The increase in revenues which is due to the improvement in majority of the sectors performance especially in the oil transportation sector where its revenues have increased by the amount of SR 764 million as well as the increase in the chemicals transportation sector revenues by the amount of SR 344 million, due to the improvement in shipping rates and the increase in shipping operations as well as the additions of new vessels in Bahri fleet.
– The increase in other income by the amount of SR 147 million during the current quarter compared with same quarter last year which is supported by the realized capital gain by the amount of SR 154 million from disposal of vessels within the fleet modernization plan.
– While the increase in finance cost by the amount of SR 68 million has limited the increase in net profits during the current quarter compared with same quarter last year.
The reason of the increase (decrease) in the net profit during the current quarter compared to the previous quarter of the current year is
The main reason for the increase in net profit in the current quarter compared to the previous quarter is:
– The increase in revenues which is due to the improvement in majority of the sectors performance especially in the oil transportation sector where its revenues have increased by the amount of SR 277 million as well as the increase in the chemicals transportation sector revenues by the amount of SR 94 million, in addition to the increase in the Logistics services sector revenues by the amount of SR 57 million due to the improvement in shipping rates and the increase in shipping operations.
– The increase in the other income by the amount of SR 125 million during the current quarter compared with previous quarter.
– While the increase in doubtful debt provision by the amount of SR 54 has limited the increase in net profits during the current quarter as a result of provisions reversal during last quarter.
The main reason for the increase in net profit during the current period compared to the same period of last year is:
– The increase in revenues which is due to the improvement in all sectors performance especially in the oil transportation sector where its revenues have increased by the amount of SR 2,017 million as well as the increase in the chemicals transportation sector revenues by the amount of SR 833 million, due to the improvement in shipping rates and the increase in shipping operations as well as the additions of new vessels in Bahri fleet.
– The increase in other income by the amount of SR 161 million during the current period compared with same period last year which is supported by the realized capital gain by the amount of SR 160 million from disposal of vessels within the fleet modernization plan.
– While the increase in the finance cost by the amount of SR 117 million has limited the increase in net profits during the current period compared with same period of last year.
Statement of the type of external auditor’s report
Unmodified conclusion
Reclassification of Comparison Items
Certain comparative figures of the prior period have been reclassified to match with the presentation of the current period.
Full Report
Source: Bahri – The National Shipping Company of Saudi Arabia JSC