Bahri benefits from Breakbulk bash

DUBAI: February 2019. Saudi Arabia transport and logistics company Bahri says the Breakbulk Middle East event this week was “outstanding” as it reported a 1.3 percent year-on-year increase in 2018 revenue to SAR6.13 billion, and a net profit of SAR 481.24 million.

Bahri Logistics, one of the top breakbulk carriers in the world and one of the five business units within Bahri, showcased its services at the event featuring exhibitors and participants from over 50 countries.

“Breakbulk Middle East provided an outstanding platform for us to connect with key stakeholders and potential customers to further our long-term growth objectives,” declared Bahri Logistics president Ahmed Al-Ghaith. “The event also enabled us to gain a deeper understanding on the latest industry developments and share knowledge with our partners as we strive to develop innovative new services and solutions that answer the evolving needs of our customers.”

Bahri Q4 results reflected its strategy as revenue rose 24.2 percent year-on-year to reach SAR1.78 billion and net profit rose 12 percent to SAR91.41 million. Operating profit increased 39.7 percent to SAR386.21 million.

Commenting on the results Bahri CEO Abdullah Aldubaikhi, said the company would continue “pushing ahead with its long-term business growth strategies [and] continue to strengthen its fleet and invest in new technologies while remaining committed to seeking new investments to deliver higher returns to its shareholders”.