Quotes: MENA   Enter Symbol: NewsLetter: Search: advanced

Profits of listed transport firms up 32% to SR257 million in Q1  Join our daily free Newsletter

MENAFN - Arab News - 11/05/2014
No. of Ratings : 0
Add to Mixx!



(MENAFN - Arab News) Net profits of the listed transport sector grew by 32 percent to sr257.4 million in the first quarter of the current year compared to sr194.7 million in the same period last year local media said.

first-quarter profits however dropped by 40 percent compared to profits achieved by the sector in q4 of 2013 which stood at sr 429.3 million according to data analyzed by al-hayat daily.

the sector is comprised of four listed companies whose market capitalization is worth sr19.6 billion or 1 percent of the market value of the capital market. their capitals stood at sr4.97 billion the report said.

the national shipping company of saudi arabia (bahri) recorded the highest profits of the four firms at sr195.1 million in q1 compared to sr138.1 million in the same period last year or an increase of 41.3 percent but however dropped by 29.2 percent compared to the previous quarter (q4-2013) which stood at sr276.1 million according to the report.

the profit growth was attributed to the increased profits of its subsidiary companies and improvement in oil transport sector.

meanwhile budget saudi arabia was the second largest firm in terms of profits which jumped to sr39.9 million compared to sr36.2 million in q1 2013 or an increase of 10.3 percent and 6.3 percent compared to q4 (2013) profits which stood at sr37.5 million.

the profit growth was attributed to the increase of revenues from short-and-long term rental operations and sales of used cars the report said.

saudi public transport company (saptco) has likewise raised its profits by 5.05 percent to sr21.1 million in q1 compared to sr20.08 million in the same period last year.

the company attributed profit growth to the increase in operation revenues during the said period the report said.

on the other hand profits of saudi transport and investment company (mubarrad) grew by 300 percent to sr1.37 million in q1 (2014) compared to sr343250 in q1 of 2013.

the profit growth was attributed to increased revenues of transport activity and profits generated from investments in securities in march the report said.


 


Arab News




  MENA News Headlines
 Jan 29 2015 - HH the Emir Receives Phone Call from Ban Ki-moonQatar News Agency
(MENAFN - QNA) HH the Emir Sheikh Tamim bin Hamad Al-Thani on Thursday received a phone call from the United Nations Secretary-General, Ban Ki-moon, during which he thanked HH the Emir on the ...

 Jan 29 2015 - Consumer spends on pharma products to increase to Dh5.03b by 2020Khaleej Times
(MENAFN - Khaleej Times) Dubai € Consumer expenditure on pharmaceutical products, medical appliances and equipment in the UAE has experienced a strong increase and is forecast to be valued around ...

 Jan 29 2015 - UAE- Time to put cyber security on top priorityKhaleej Times
(MENAFN - Khaleej Times) Kaspersky lab solutions block millions of attacks across the globe, which clearly indicates that cyber criminals are smart, but not smarter than security providers.This was ...

 Jan 29 2015 - Indian business council honours Emirati businessmenKhaleej Times
(MENAFN - Khaleej Times) Dubai - The Indian Business and Professional Council (IBPC) hosted a reception on the occasion of the 66th Republic Day of India at the Oberoi Hotel, Business Bay, on Sunday. ...

 Jan 29 2015 - UAE, Canada discuss ways to boost tradeKhaleej Times
(MENAFN - Khaleej Times) Abu Dhabi - Abdullah Al Saleh, Undersecretary of the Ministry of Economy for Foreign Trade, received a Canadian delegation led by Martin Zablocki, CEO of the Canadian ...

 Jan 29 2015 - Emirates NBD facilitates Stanbic in $85 million loan facilityKhaleej Times
(MENAFN - Khaleej Times) Al Ahli Bank of Kuwait and Standard Chartered Bank joined the transaction as mandated lead arrangers while Al Khalij Commercial Bank and The Commercial Bank of Qatar ...

 Jan 29 2015 - NBAD profit jumps 28% in 2014Khaleej Times
(MENAFN - Khaleej Times) Abu Dhabi - A strong growth in incomes from interest and non-interest based revenues bolstered the National Bank of Abu Dhabi (NBAD) profits to Dh1.372 billion in the quarter ...

 Jan 29 2015 - UAE pharma spend to hit Dh5 billion by 2020Khaleej Times
(MENAFN - Khaleej Times) It is also forecasted to increase at a compound annual growth rate (CAGR) of about 9.78 per cent from 2014 to 2020 as, by then, the value of consumer expenditure on ...

 Jan 29 2015 - Parents happy with children's educationKhaleej Times
(MENAFN - Khaleej Times) Abu Dhabi: A survey by the Abu Dhabi Education Council (Adec) has revealed that parents across the emirate are satisfied with their children's schools. The education ...

 Jan 29 2015 - Customers continue winning at Malabar Gold 1amp Diamonds FestivalArab News
(MENAFN - Arab News) Customers continue to win at Malabar Gold & Diamonds' ongoing gold and diamond festival.The jewelry retailer's 4th edition of Malabar Gold & Diamonds Festival in the GCC ...

more...


 






Google

Internatinal Property Show

 
 

Middle East North Africa - Financial Network

MENAFN News Market Data Countries Tools Section  
 

Middle East North Africa - Financial Network
Arabic MENAFN

Main News
News By Industry
News By Country

Islamic Finance News
Private Equity News

How-To Guides
Technology Section

Travel Section

Search News

Market Indices
Quotes & Charts

Global Indices
Arab Indices

Commodoties

Oil & Energy

Currencies Cross Rates
Currencies Updates
Currency Converter

USA Stocks
Arab Stocks
 

Algeria 
Bahrain 
Egypt 
Iraq
Jordan 
Kuwait 
Lebanon
Morocco 
Oman 
Palestine
Qatar 
Saudi Arabia 
Syria
Tunisia 
UAE 
Yemen

Weather
Economic Calendar
Financial Glossary


Financial Calculators

RSS Feeds [XML]

Corporate Monitor

Events

Real Estate
Submit Your Property

Arab Research
Buy a Research

Press Releases
Submit your PR

Join Newsletters


 
© 2014 menafn.com All Rights Reserved.  Terms of Service | Privacy Policy | Contact Us | Advertise | About MENAFN | Career Opportunities | Feedback | Help