Bahri: 24% Growth in Q4 2018
Bahri reported a revenue growth of 24.2 percent for the quarter ending December 31, 2018. Total revenues grew to $475 million compared to $381 million during the same period in 2017.
For Q4 2018, Bahri registered a net profit of $24.3 million, a 12 percent increase over the preceding quarter’s net income of $21.6 million. Operating profit increased by 39.7 percent to $98 million, in comparison to $73.6 million in Q4 2017. Operating profit surged 177 percent from $37 million compared to the third quarter of 2018.
For the fiscal year 2018, Bahri achieved a total revenue of $1.6 billion, up 1.3 percent from the previous year. The company’s annual net profit amounted to $128 million.
"Bahri will continue to strengthen its fleet and invest in new technologies, while remaining committed to seeking new investments to deliver higher returns to its shareholders,” said Abdullah Aldubaikhi, CEO, Bahri.