Riyadh – Mubasher: National Shipping Company of Saudi Arabia (Bahri) reported a drop of 68.4% in profits during the second quarter of 2017 compared to the same period last year.
The company’s earnings decreased to SAR 153.9 million in Q2-17 from SAR 487.1 million in Q2-16, Bahri said in a bourse statement to the Saudi Stock Exchange (Tadawul).
Total revenues shrank by 24% to SAR 1.4 billion in Q2-17 from SAR 1.8 billion in Q2-16.
During the first half of 2017, Bahari posted a plunge of 51.6% in profits to SAR 532.8 million from SAR 1.1 billion in the same period a year ago, the statement added.
At the stock level, Bahri closed Monday’s trading session 1.05% lower at SAR 34.95.
