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Bahri sees profits surge 127%

The National Shipping Company of Saudi Arabia (Bahri) has posted a 126.6% surge in net profit for the second quarter to SR207.1m, compared with SR91.4m for the corresponding quarter a year ago, Saudi Gazette has reported. Gross profit for the quarter also climbed 49.9% to SR193.9m from SR129.4m for the corresponding quarter for the year 2011. Net profit, for the six months ended June 30 also rose 143% to SR367.2m from SR151.1m for the same period of last year, Bahri said.