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Bahri sees profits soar in 2022

Saudi Arabia’s Bahri has seen its profits soar by over 400% in 2022 following a boom in tanker rates, boosting the shipping giant’s oil & chemical tanker sectors in particular.

The oil transport segment’s revenue rose by SAR 2.01 billion. The petrochemical transport segment reported higher revenue of SAR 833 million, driven by improved shipping rates, increased shipping operations and inclusion of new vessels to its fleet.

Meanwhile, other income increased by SAR 161 million during the current period year-on-year, supported by the realization of capital gains of SAR 160 million from the disposal of vessels within the fleet modernization plan.

The profit increase was, however, offset by higher finance costs, which rose by SAR 117 million.

Element ListCurrent QuarterSimilar Quarter For Previous Year%ChangePrevious Quarter% Change
Gross Profit (Loss)2,070.881,368.8351.29383.24440.36
Operational Profit (Loss)760.07173.31338.56412.3484.33
Net Profit (Loss) after Zakat and Tax578.1291.98528.53269.87114.22
Total Comprehensive Income576.56104.96449.31265.3117.32
All figures are in (Millions) Saudi Arabia, Riyals
Element ListCurrent PeriodSimilar Period For Previous Year%Change
Gross Profit (Loss)7,204.454,917.9846.49
Operational Profit (Loss)1,493.29424.83251.5
Net Profit (Loss) after Zakat and Tax1,040.91192.43440.93
Total Comprehensive Income1,075.13210.93409.71
Total Share Holders Equity (after Deducting Minority Equity)10,491.159,413.1111.45
Profit (Loss) per Share2.110.39
All figures are in (Millions) Saudi Arabia, Riyals

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