Bahri Annual Report-2010

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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