Arab shipping company realizes 40.7 million dollars in net profits

The Arab shipping company said Thursday it posted US$ 40.7 million in net profits last year thus boosting its financial position and pumping overall profits to US$ 43.1 million.

Company's chief executive officer and director general Abdullah Al-Madhi said his firm had lifted 819,000 containers and 827,000 tons of goods during 2000. Al-Madhi said the company's overall revenues were US$ 769 million while total operational costs stood at US$ 683 million.

The CEO said the company was working hard to improve quality of its services as well as enhancing its administrative structure.