Bahri reports big jump in profit

Middle East

Friday, October 19, 2012

Bahri, formerly the National Shipping Company of Saudi Arabia, said it had a profit of 60.2 million Saudi Riyal ($16.1 million) in the third quarter ending Sept. 30, compared to SAR 23.4 million for the corresponding quarter for the year 2011, an increase of 157 percent. Saleh Nasser Al-Jasser, the company's chief executive officer, said the improved net profit reflected the improvement of profit of the general cargo sector, lower fuel consumption due to slow speed of ships, and B...

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