The main reason for the increase in net profit in the current quarter compared to the same quarter last year is:
– The increase in revenue by 54% and this is due to the improvement in several sectors, particularly in the oil transport sector where its revenue increased by an amount of SR 222 million as well as the increase in revenue from the chemical shipping segment amounting to SR 121 million, due to improved global shipping rates and increased shipping operations as well as new vessels added to the Bahri fleet .
– The increase in the group’s share in the results of the equity-accounted entity by an amount of SR 24.8 million in the current quarter compared to the same quarter last year.
– Increase in net profit was limited due to decrease in other income amounting to SR 16.4 million and increase in finance charges amounting to SR 12 million in the current quarter compared to the same quarter of last year.
The main reason for the increase in net profit of the current quarter compared to the previous quarter is:
– The increase in revenue by 26% and this is due to the improvement in several sectors, particularly in the oil transport sector where its revenue increased by an amount of SR 229 million as well as the increase in revenue from the chemical shipping segment amounting to SR 113 million, due to improved global shipping rates and increased shipping operations as well as the addition of new vessels to the Bahri fleet .
The increase in the group’s share in the results of the equity-accounted business by an amount of SR 16.5 million in the current quarter compared to the previous quarter.
– While the increase in financial charges amounting to SR 19.3 million limited the increase in net profit in the current quarter compared to the previous quarter.
The main reason for the increase in net profit in the current period compared to the same period last year is:
– The increase in revenue by 44% and this is due to the improvement in several sectors, particularly in the oil transport sector where its revenue increased by an amount of SR 607 million as well as the increase in revenue from the chemical shipping sector amounting to SR 260 million, due to improved global shipping rates and increased shipping operations as well as the addition of new vessels to the Bahri fleet .
– While the increase in the provision for bad debts by an amount of SR 16.4 million and the decrease in other income by an amount of SR 15.9 million and the decrease in the group’s share in the results of equity-accounted business of SR 13.2 million, limited the increase in net profit in the current period compared to the same period last year.
Certain prior period comparative figures have been reclassified to conform to the current period presentation.
Source: The National Shipping Company of Saudi Arabia
Comments are closed.