FINANCIAL NEWS

Saudi transport firms sales hit USD1.5b in 2014

05 Apr 2015

(MENAFN) Revenues of the Saudi listed transport firms rose by 22 percent to reach USD1.5 billion in 2014, compared to USD1.23 billion in 2013, Arab News reports.

Meanwhile, net profits of the listed transport companies decreased by 20 percent to USD226 million in 2014 compared to USD282 million in 2013.

The transport sector is composed of four companies with their capitals reaching USD1.53 billion, of which USD1.04 billion and USD333 million were captured by the National Shipping Company of Saudi Arabia Bahri and the Saudi Public Transport Company SAPTCO.

While Bahri recorded the highest sales of the four firms with USD967 million in the last year compared to USD759 million in 2013, SPATCO’s sales increased by 5.3 percent to USD 271 million in the previous year, compared to USD257 million in 2013.

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