Riyadh-Mubasher: The National Shipping Company of Saudi Arabia (Bahri) is expected to record a 27% increase in 2016 revenues to SAR 9.5 billion, said Maceen Capital.
The research firm attributed its forecasts to the fact that the company added new oil and chemical carriers.
Bahri received four new carries; one in December 2015 and the remaining three ones in January 2016.
FY16 net income will likely grow by around 9% to SAR 1.98 billion, Maceen said.
It added that the shipping services provider will keep recording growth in revenues and net earnings in the next period as the company is committed to its strategy.
Maceen recommended 'Buy' on the stock, setting the price target at SAR 55.70.
