Saudi Arabia’s Bahri delivers exceptional growth in Q1, Q2

CountrySaudi Arabia

Bahri, a global leader in logistics and transportation, delivered exceptional growth in earnings and profitability in the first and second quarters of 2020. The company’s second quarter results were the highest ever in its history. Net profit surged 1,569% to reach SR760.61 million ($202.88 million), compared to SR45.57 million reported in the same period in 2019. Total revenue came in at SR3.53 billion, jumping 145% from SR 1.44 billion. As for the half-yearly performance, Bahri reported a 425% increase in net profit and a 78% rise in revenues. Besides announcing the results, Bahri also hosted its annual Investor Day for its major institutional shareholders. Bahri’s CEO, Eng Abdullah Aldubaikhi, highlighted the company’s key achievements since January 2020, including the establishment of the National Grain Company as a joint venture between Bahri and SALIC, a more...