The National Shipping Company of Saudi Arabia (A Saudi Joint Stock Company) Consolidated Statement of Income As of December 31, 2012 (in Thousands of Saudi Riyals)
Notes
2012
2011
Operating revenues
17
2,464,628
1,991,084
Bunker costs
17
(875,097)
(801,163)
Other operating expenses
17
(1,215,600)
(1,027,214)
Gross operating income before bunker subsidy
373,931 162,707
Bunker subsidy
200,572
176,465
Gross operating income
574,503 339,172
General and administrative expenses
19
(120,717)
(109,660)
Operating income
453,786 229,512
Company’s share in profit of affiliates
9
147,660
139,723
Finance charges
14
(59,772)
(51,901)
Other income / (expenses), net
20
20,135
20,553
Profit before zakat, tax and non-controlling interests
561,809 337,887
Zakat provision
16
(32,945)
(21,594)
Tax provision, net
16
(3,354)
(3,903)
Profit before non-controlling interests
525,510 312,390
Non-controlling interests in consolidated subsidiaries’ net profit
(21,517)
(24,622)
Net profit for the year
503,993 287,768
Earnings per share from operating income (SR)
15
1.44
0.73
Earnings per share from net profit (SR)
15
1.60
0.91
The accompanying notes from (1) to (25) form an integral part of these consolidated financial statements
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