Bahri Posts Strong Revenue Growth
The National Shipping Co. of Saudi Arabia, or Bahri, has reported revenue growth of 24.2 percent for the fourth quarter of 2018.
The group saw revenue grow to about US$470 billion for the three months ending Dec. 31, and US$1.63 billion for the full year 2018, resulting in annual net profit of US$128 million.
“The company’s sustained efforts to enhance its maritime capabilities and offerings and the better performance of its five business units helped report solid results in 2018. Pushing ahead with its long-term business growth strategies, Bahri will continue to strengthen its fleet and invest in new technologies, while remaining committed to seeking new investments,” said Abdullah Aldubaikhi, CEO of Bahri.
Bahri is one of the world's largest maritime services providers and, alongside a fleet of breakbulk vessels, also operates several double-hull very-large crude carriers, chemical carriers, dry bulkers and multipurpose roll-on, roll-off vessels.
Photo: Abdullah Aldubaikhi. Credit: Bahri