Consolidated Financial Statements
Consolidated Statement of Changes in Shareholders’ Equity
For the year ended December 31, 2010 (In Thousands Saudi Riyals)
Unrealized gains (losses) from available for sale investments
Paid-up capital
Share premium
Statutory reserve
Retained earnings
Hedging reserve
Total
3,150,000 524,416 240,824 1,177,403 (5,024)
3,177 5,090,796
Balance at December 31, 2008
Net profit for the year
---
---
---
369,300 ---
---
369,300
Statutory reserve
---
---
36,930 (36,930)
---
---
---
Transfer of share premium to statutory reserve (Note 18)
---
(524,416)
524,416
---
---
---
---
Hedging reserve for finance commission
---
---
---
---
1,494 ---
1,494
Dividends
---
---
---
(472,500)
---
---
(472,500)
Unrealized loss from available for sale investments
---
---
---
---
---
(1,570)
(1,570)
3,150,000 ---
802,170 1,037,273 (3,530)
1,607 4,987,520
Balance at December 31, 2009
Net profit for the year
---
---
---
414,878 ---
---
414,878
Statutory reserve
---
---
41,488 (41,488)
---
---
---
Hedging reserve for finance commission
---
---
---
---
1,796 ---
1,796
Dividends
---
---
---
(315,000)
---
---
(315,000)
Unrealized gain from available for sale investments
---
---
---
---
---
497
497
Balance at December 31, 2010
3,150,000 ---
843,658 1,095,663 (1,734)
2,104 5,089,691
The accompanying notes from (1) to (26) form an integral part of these consolidated financial statements
The National Shipping Company of Saudi Arabia Annual Report 2010
53
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