Bahri Annual Report-2013

In 2013, Bahri established a new division for investment in offshore services, activated the role of the dry bulk transportation sector, boosted operational performance in various divisions, intensified marketing activity, updated technologies to align with the latest developments in the shipping industry and enhanced workplace safety. Bahri implemented a new corporate social responsibility (CSR) strategy which focused on Humanitarian and Community programs, developed specialized training programs to further enhance the skills and competencies of employees and build new strategic objectives for the forthcoming five year plan. Finally, I would like to extend my appreciation to my colleagues in the Executive Management and to all employees throughout each division for their sincere efforts and contribution to the development and success of the Company.

Dear Shareholders, May the peace, mercy and blessings of Allah be upon you.

On behalf of myself, the Executive Management and all the Company’s

employees, I am pleased to extend thanks and gratitude to the honorable Board of Directors and the Company’s customers for their endless support, which has resulted in a positive financial performance. In 2013, net profit amounted to SAR 752,262,000. This is the Company’s highest profit since its inception in 1978, despite the prolonged impacts of the global financial crisis during the last year which affected the freight rates of most of the Company’s operating activities. The overall success of the Company reflects Bahri’s commitment to continuous development and implementation of strategic plans consisting of diversification, growth, operating efficiency and raising planned investment in human resources. A solid foundation of the Company’s infrastructure was established during the last period, reflecting the promising future of Bahri and enhancing its position as a leading global marine transportation company.

“The Journey Continues” Saleh Nasser Al-Jasser Chief Executive Officer

Powered by