Financial Statements Report 2011
Consolidated Income Statement For the year ended December 31, 2011 (In Thousands of Saudi Riyals)
Notes
2011
2010
Operating revenues
19
1,991,084
2,049,830
Bunker cost
19
)801,163(
)625,692(
Other operating expenses
19
)1,027,214(
)976,253(
Gross operating income before bunker subsidy
162,707
447,885
Bunker subsidy
176,465
109,498
Gross operating income
339,172
557,383
General and administrative expenses
21
)109,660(
)103,801(
Operating income
229,512
453,582
Company’s share in affiliates’ net income
9
139,723
40,788
Financing charges
14
)51,901(
)50,179(
Other income (expense), net
22
20,553
25,625
Profit before zakat, tax and minority interest
337,887
469,816
Zakat provision
16
)21,594(
)35,104(
Tax provision, net
16
)3,903(
)1,261(
Profit before minority interest
312,390
433,451
Minority interest in consolidated subsidiaries’ net profit
)24,622(
)18,573(
Net profit for the year
287,768
414,878
Earnings per share from operating income (SR)
15
0.73
1.44
Earnings per share from net profit (SR)
15
0.91
1.32
The accompanying notes from (1) to (26) form an integral part of these consolidated financial statements
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