Bahri reports 46% jump in first-quarter 2019 net profit

Bahri reports 46% jump in first-quarter 2019 net profit

By: Logistics Middle East Staff
Bahri has reported a 46% net profit increase for the first quarter of 2019 despite challenging market conditions.
This profit growth was on the back of revenue growth of 17 percent during the quarter ended on March 31, 2019.
[node:story_0]
Bahri posted a net profit of SAR 179.33 million, marking an impressive 96.1 percent increase from the previous quarter and a sharp rise from SAR 123.14 million reported for the first three months of 2018.
Total revenue for the quarter under review stood at SAR 1.7 billion, as compared to SAR 1.45 billion in the year-ago period.
“We are pleased to deliver positive results for the first quarter of the year in spite of facing various challenges in the global maritime shipping market,” said Abdullah Aldubaikhi, CEO, Bahri. “This figure was driven by our relentless pursuit of excellence in our operations and service offering.”
“The solid improvement in the performance of our business units and the rise in transportation rates not only helped boost profits but also offset any negative impact arising from the increase in financing cost,” he added.
[node:story_1]
“We are optimistic that Bahri will remain committed to further strengthening our capabilities, enhancing our logistics and transportation solutions, and exploring new streams to maximize returns for our customers and shareholders,” Aldubaikhi said.
Bahri’s gross profit surged 40.2 percent year-on-year from SAR 303.78 million in Q1 2018 to SAR 426.18 million in the corresponding period this year, and rose 7 percent over the previous quarter’s SAR 398.11 million.
Operating profit went up 46.8 percent year-on-year from SAR 256.91 million in last year’s January-March period to SAR 377.18 million in the corresponding period this year.
Shipping from Dubai | Air Cargo | Sea Shipping | International Relocation
AAC Cargo & International Shipping Services
Dubai, Unites Arab Emirates
Tel: +971 4 8880718
Email: info@aaccargo.ae
Websites:
https://aaccargo.ae
https://aaccargo.com/
http://expresscargo.ae/
Shipping & Moving Household & cars from Dubai to USA, Africa & Europe, we are international movers specialized in worldwide logistics from Dubai.
Shipping from Dubai, International movers, Shipping to Africa, Shipping to Europe, International Relocation, Ocean Freight, Sea shipping, Air Cargo, air shipping, Shipping Company, Cargo Company, Dubai Shipping Company freight forwarding, Logistics company, Express Cargo, Shipping to South America, Shipping to Russia

Comments

Post a Comment

Popular posts from this blog

ASENDIA HELPS RETAILERS TO STREAMLINE THEIR LOGISTICS

Image
Asendia  Singapore has opened a high-tech Fulfilment Centre at  Singapore Changi Airport  in the latest phase of its global e-commerce focused strategy. Based in the city state’s Free Trade Zone (FTZ), the new facility offers Asendia customers the ability to manage their cross-border e-commerce fulfilment operations from Singapore, regardless of where their parent company is based, particularly useful for US and EU based e-commerce operators. This opening means that Asendia now has fulfilment solutions straddling three continents, Asia, Europe and North America. The Singapore Fulfilment Centre will offer services including; order processing, global distribution, storage and stock management. Due to Singapore Harbour’s free-trade status and proximity to Asian manufacturing hubs customers will benefit from reduced transport costs and more efficient tax and duty management. Commenting on the announcement, Dieter Pluess, CEO Asendia Singapore, said: “Asendia is leading the way w
Read more

DECATHLON ROLLS OUT PARCEL LOCKERS IN BELGIUM

Image
Sports retailer Decathlon is working with bpost subsidiary Cubee to roll out parcel collection lockers at its stores in Belgium. The sports retailer and bpost are introducing collection points at 12 stores across Belgium by the end of 2019. The first points will be at stores in Maasmechelen and Olen, with Antwerp and Wavre to follow in the short term. The machine in the car park of the Maasmechelen store has 58 individual lockers. Built by Cubee, the technology allows customers to collect and return online orders from certain internet shops. Customers are sent an email or SMS with the collection code once the courier places the order in the Cubee parcel machine. In the future, Decathlon wants to use the machines to offer a same-day click and collect service. Project leader Ina Vandercappellen said: “Our collaboration with Cubee fits in perfectly with the optimum service that we strive for. Customers can now also pick up their package at their fav
Read more

Saudia Cargo transports 175 Tons of WWE Super Showdown equipment

Image
Saudia Cargo has successfully provided all its logistical capabilities to bring the WWE wrestling ring equipment of the show that were forwarded by Sound Moves via Saudia Cargo freighters Share by  Logistics Middle East Staff Wed 12 Jun 2019 04:13 PM Saudi Airlines Cargo Company transported 175 Tons of World Wrestling Entertainment (WWE) equipment all the way to Jeddah, from Maastricht in the Netherlands for the WWE event that took place at King Abdullah Sports City in June. Saudia Cargo has successfully provided all its logistical capabilities to bring the WWE wrestling ring equipment of the show that were forwarded by Sound Moves via Saudia Cargo freighters. Boeing 747-8s & Boeing 777s carrying total tonnages of 175 tons delivered the cargoes in May. The company also provided special Ground Handling for the heavy loads at King Abdulaziz International Airport’s Cargo station. Saudia Cargo resumes freighter
Read more