Saudi Arabian shipowner Bahri posted monster jumps in profit and revenue for the first quarter as tanker rates rallied to finish March.
The state-owned company said its net profit after taxes and almsgiving for the first three months of 2020 was SAR 419.22m ($111.5m), more than double the SAR 179.3m reported for the same period last year.
Revenue shot up nearly a quarter year-on-year from SAR 2.1bn
