The profits of the Saudi National Shipping Company in the second quarter of 2021 decreased by 95%, recording 39 million riyals, compared to 760 million riyals for the same quarter of 2020.< /p>
According to Arabiya Net, the profits achieved in the first half of the year decreased by 93%, as the company recorded profits of 82 million riyals in the first half of the year, compared to 1.18 billion riyals in the previous year. The same period of the previous year.
Al-Bahri said in a statement on the Saudi Tadawul website, today, Tuesday, that the main reason for the decline in net profit during the current quarter compared to the same quarter of the previous year, is due to The significant decline in revenues from the oil sector by 74%, due to the sharp decline in international oil transportation rates, in addition to the drop in transportation operations.
It added that the decrease in zakat, income tax and financing expenses, and the increase in fuel subsidy and other revenues during this quarter compared to the same quarter of the previous year, contributed to limiting the decline in net profit.
In the first half of the year, the main reason for the decrease in net profit compared to the same period of the previous year, is the decrease in revenues from several sectors, mainly from the sector Oil, whose revenues decreased by 67% compared to the same period of the previous year, due to the sharp decline in international transport rates, in addition to the decrease in transport operations.
