15 November 2015
RIYADH: Profits of the listed transport firms grew by 116 percent in the first nine months of the current year to reach SR2.11 billion compared to SR980 million in the same period last year, according to a financial report.
Profits of the third quarter alone hit SR825.5 million compared to SR362.5 million in the same period last year, or an increase of 128 percent, Al-Hayat daily said in a report.
Similarly, sales of the transport firms in Q3, 2015, rose to SR3.33 billion compared to SR3.04 billion in Q3 2014, or an increase of 9.61 percent, the report said.
The transport sector is composed of five companies whose market capitalization reached SR34 billion, or 2.1 percent of the Saudi stock market, with their capital totaling totaled SR7.75 billion.
The National Shipping Company of Saudi Arabia (Bahri) captured the highest portion of the sector's capital at 51 percent to reach SR3.93 billion followed by the Saudi Ground Services Co. at SR1.88 billion (24.2 percent) and the Saudi Public Transport Company (SAPTCO) at SR1.25 billion (16.1 percent), the report said.
Based on the available data, Bahri posted the biggest profits among the transport companies sector in Q3, 2015, at SR510.4 million compared to SR85 million in Q3, 2014, or an increase of 501.4 percent.
Bahri also registered net profits of SR1.25 billion in the first nine months of the current year compared to SR410 million in the same period last year, or an increase of 205 percent. Overall, the company captured 59 percent of the sector's profits in the period.
Meanwhile, profits of the Saudi Ground Services Co. dropped by 5.51 percent in Q3, 2015, to reach SR167 million compared to SR176.8 million in Q3, 2014. However, its profits grew by 38 percent to SR452 million in the first nine months of the current year compared to SR328.4 million in the same period last year, the report said.
On the other hand, profits of SAPTCO grew by 242 percent in Q3, 2015, to SR81.4 million compared to SR24 million in Q3, 2014. Likewise, its profits jumped to SR232.1 million in the first nine months of the current year compared to SR67.3 million in the same period last year, or an increase of 245 percent.
Profits of Budget Saudi Arabia also grew by 10.2 percent in Q3, 2015, to SR48.7 million compared to SR44.2 million in Q3, 2014. Similarity, the company's profits grew by 10.2 percent in the first nine months to SR139.1 million compared to SR126.3 million in the same period last year, according to the report.
In the meantime, profits of the Saudi Transport and Investment Company (Mubarrad) reached SR18 million in Q3, 2015, compared to SR32.7 million in Q3, 2014, or a drop of 45 percent. Likewise, the company has its profits dropped by 18 percent to SR39 million in the first nine months (2015) compared to SR47 million in the same period last year, the report said.
RIYADH: Profits of the listed transport firms grew by 116 percent in the first nine months of the current year to reach SR2.11 billion compared to SR980 million in the same period last year, according to a financial report.
Profits of the third quarter alone hit SR825.5 million compared to SR362.5 million in the same period last year, or an increase of 128 percent, Al-Hayat daily said in a report.
Similarly, sales of the transport firms in Q3, 2015, rose to SR3.33 billion compared to SR3.04 billion in Q3 2014, or an increase of 9.61 percent, the report said.
The transport sector is composed of five companies whose market capitalization reached SR34 billion, or 2.1 percent of the Saudi stock market, with their capital totaling totaled SR7.75 billion.
The National Shipping Company of Saudi Arabia (Bahri) captured the highest portion of the sector's capital at 51 percent to reach SR3.93 billion followed by the Saudi Ground Services Co. at SR1.88 billion (24.2 percent) and the Saudi Public Transport Company (SAPTCO) at SR1.25 billion (16.1 percent), the report said.
Based on the available data, Bahri posted the biggest profits among the transport companies sector in Q3, 2015, at SR510.4 million compared to SR85 million in Q3, 2014, or an increase of 501.4 percent.
Bahri also registered net profits of SR1.25 billion in the first nine months of the current year compared to SR410 million in the same period last year, or an increase of 205 percent. Overall, the company captured 59 percent of the sector's profits in the period.
Meanwhile, profits of the Saudi Ground Services Co. dropped by 5.51 percent in Q3, 2015, to reach SR167 million compared to SR176.8 million in Q3, 2014. However, its profits grew by 38 percent to SR452 million in the first nine months of the current year compared to SR328.4 million in the same period last year, the report said.
On the other hand, profits of SAPTCO grew by 242 percent in Q3, 2015, to SR81.4 million compared to SR24 million in Q3, 2014. Likewise, its profits jumped to SR232.1 million in the first nine months of the current year compared to SR67.3 million in the same period last year, or an increase of 245 percent.
Profits of Budget Saudi Arabia also grew by 10.2 percent in Q3, 2015, to SR48.7 million compared to SR44.2 million in Q3, 2014. Similarity, the company's profits grew by 10.2 percent in the first nine months to SR139.1 million compared to SR126.3 million in the same period last year, according to the report.
In the meantime, profits of the Saudi Transport and Investment Company (Mubarrad) reached SR18 million in Q3, 2015, compared to SR32.7 million in Q3, 2014, or a drop of 45 percent. Likewise, the company has its profits dropped by 18 percent to SR39 million in the first nine months (2015) compared to SR47 million in the same period last year, the report said.
© Arab News 2015
