Consolidated Financial Statements
Consolidated Income Statement For the year ended December 31, 2009
Notes
2009
2008
Operating revenues
17
1,672,016
2,594,530
Operating expenses
17/18/19
(1,633,882) (1,299,545)
Gross operating income
372,471
960,648
General and administrative expenses
20
(95,020)
(105,718)
Operating income
277,451
854,930
Company’s share in profit (loss) of affiliates, net
8
84,942
(3,840)
Financing charges
13
(77,669)
(105,833)
Other income (expense), net
21
62,998
(4,292)
Profit before bunker subsidy, zakat, tax, and minority interest
347,722
740,965
Bunker subsidy
83,212
72,859
Profit before zakat, tax, and minority interest
430,934
813,824
Zakat provision
14
(32,627)
(40,211)
Tax provision
14
(1,963)
(14,260)
Profit before minority interest
396,344
759,353
Minority interest in consolidated subsidiaries’ net profit
(27,044)
(9,385)
Net profit for the year
369,300
749,968
Earnings per share from operating income (SR)
22
0,88
2,71
Earnings per share from net profit (SR)
22
1,17
2,38
In Thousands Saudi Riyals
The accompanying notes from (1) to (27) form an integral part of these consolidated financial statements
Annual Report 2009 The National Shipping Company of Saudi Arabia
43
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