Quotes: US 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.


 






  MENA News Headlines
 Jul 29 2014 - New additions to Local Harvest brand of datesKhaleej Times
(MENAFN - Khaleej Times) E dates come from farmers who have contracts with ADFSC and therefore practise date palm farming according to the centres standards.For the next three weeks the Abu Dhabi ...

 Jul 29 2014 - PayTabs to launch online solutions in Bahrain, SaudiMENAFN
(MENAFN) PayTabs, a payment processing solution company co-owned by Saudi Aramco, is set to launch its online payment processing solutions in Bahrain and Saudi Arabia, Gulf Daily News reported.The ...

 Jul 29 2014 - Mobily signs LTE-4G roaming deal with BatelcoMENAFN
(MENAFN) Mobily telecom has signed an LTE-4G roaming deal with Bahrini Batelco to provide customers with advanced Internet services, Arab News reported.This agreement coincides with Eid Al-Fitr ...

 Jul 29 2014 - Radiant During RamadanMuscat Daily
(MENAFN - Muscat Daily) Keep your skin and hair glowing and shiny even as you're fasting in this holy month. Some tips... Moisturise Your skin too gets dehydrated when you fast. It is ...

 Jul 29 2014 - Duqm Airport takes offMuscat Daily
(MENAFN - Muscat Daily) The newly opened Duqm Airport received its first Oman Air flight ahead of schedule on Wednesday with officials saying that the facility will serve as an air transport and ...

 Jul 29 2014 - Air fares rise by 35 as travellers rush to make the most of long breakMuscat Daily
(MENAFN - Muscat Daily) Fares of most airlines have gone up due to the increase in demand during Eid al Fitr holidays. The prices of tickets to different destinations have gone up by nearly 35 per ...

 Jul 29 2014 - MoHC invites bid for construction of $250mn Oman Cultural ComplexMuscat Daily
(MENAFN - Muscat Daily) After announcing the appointment of the UK-based international consultancy and construction company, Mace as project manager for the Oman Cultural Complex (OCC), the Ministry ...

 Jul 29 2014 - Moon sighting expected on Monday eveningMuscat Daily
(MENAFN - Muscat Daily) The crescent of the new moon is expected to be visible on Monday evening across all governorates in the sultanate, marking the beginning of the month of Shawwal, according to ...

 Jul 29 2014 - Pakistan's film industry becomes alive againArab News
(MENAFN - Arab News) HORE: A breed of brand new independent filmmakers is successfully filling the void left by an obsolete industry known as Lollywood.In many ways 2013 was an era-defining year for ...

 Jul 29 2014 - Pak-British singer faces death threats over Gaza supportArab News
(MENAFN - Arab News) NDON: Zayn Malik probably wasn't expecting the barrage of abuse he received from followers after he pledged his support for the #FreePalestine social media campaign The ...

more...


 






Google

Taqs

 
 

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

IPO News
Islamic Finance News
Private Equity News

How-To Guides
Technology Section

Travel Section

Search News

Market Indices
Quotes & Charts

Global Indices
Arab Indices

US Markets Details

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
Investment Game
Economic Calendar
Financial Glossary

My MENAFN
Portfolio Tracker

Voting

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


 
© 2000 menafn.com All Rights Reserved.  Terms of Service | Privacy Policy | Contact Us | Advertise | About MENAFN | Career Opportunities | Feedback | Help