Shipping and logistics firm Bahri has announced strong financial results for the third quarter (Q3) ending September 30, 2019, on the back of solid growth in the logistics services sector.
The company’s net profits soared by 80.52%, primarily due to an increase in returns of several operating segments.
Commenting on the results, Abdullah Aldubaikhi, CEO of Bahri, said: “Bahri’s superior performance with sustained revenue growth and profitability expansion illustrates the robustness of our long-term business strategy and signifies the strength of our market position.
“Resulting from solid growth in the maritime logistics sector and higher transportation rates underpinned by a thriving oil sector, our business units delivered substantial returns giving us the competitive advantage to continue to outperform.
“We expect the market to keep up the momentum in the remainder of 2019 and into 2020 and are well-positioned to capitalize on opportunities arising from strong client demand for our industry-leading services worldwide."
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