Bahri net profit up 114% in third quarter of 2020
Bahri, a global leader in logistics and transportation, recorded positive financial results during the third quarter of 2020, compared to those of the same quarter last year, the company said in its release.
Bahri recorded a remarkable increase of 302% in net profit for the first nine months of 2020 to reach SAR 1.49 billion, compared to SAR 372 million during the same period in 2019. The total revenues for the period increased to SAR 7.12 billion, with an increase of 54%, compared to SAR 4.63 billion recorded last year.
For the third quarter ending 30 September 2020, the company achieved a robust rise of 114% in net profit, reaching SAR 314 million, compared to SAR 147 million during the corresponding quarter in 2019. Total revenues amounted to SAR 1.51 billion, an increase of 2%, compared to SAR 1.48 billion during the same period last year.
By the end of the first nine months of this year, earnings per share increased by 303%, amounting to SAR 3.79, compared to SAR 0.94 in the same period in 2019. For the third quarter of 2020 alone, earnings per share increased by 116% to reach SAR 0.8, compared to SAR 0.37 for the same quarter last year.