Chapter 5 Consolidated Financial Statements and Auditor’s Report for the year ended 31 December 2013
The National Shipping Company of Saudi Arabia (A Saudi Joint Stock Company) Consolidated Statement of Income For the year ended December 31, 2013 (In Thousands Saudi Riyals)
Notes
2013
2012
Operating revenues
23
2,846,698
2,464,628
Bunker costs
23
(943,406)
(875,097)
Other operating expenses
23
(1,477,957)
(1,253,254)
Gross operating income before bunker subsidy
425,335
336,277
Bunker subsidy
171,108
200,572
Gross operating income
596,443
536,849
General and administrative expenses
20
(94,150)
(83,063)
Operating income
502,293
453,786
Share in results of associated companies
10
291,235
147,660
Finance charges
15
(60,402)
(59,772)
Other income, net
21
105,857
20,135
Income before zakat, tax and non-controlling interests
838,983
561,809
Zakat and tax, net
17
(49,858)
(36,299)
Income before non-controlling interests
789,125
525,510
Non-controlling interests in net income of consolidated subsidiaries
(36,863)
(21,517)
Net income for the year
752,262
503,993
Earnings Per Share (in SR): Attributable to operating income
16
1.59
1.44
Attributable to net income for the year
16
2.39
1.60
The accompanying notes from (1) to (27) form an integral part of these consolidated financial statements
72/73
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