Bahri Annual Report-2011

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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