The National Shipping Company of Saudi Arabia Announces Consolidated Financial Results for the Fourth Quarter and Full Year Ended December 31, 2012
For the year, the company's net profit totaled SAR 500.4 million compared to SAR 287.7 million for the corresponding period for the year 2011, an increase of 74%. Earnings per share was SAR 1.59 from net profit totaled SAR compared to SAR 0.91 for the corresponding period for the year 2011. Operating profit totaled SAR 448.8 million compared to SAR 229.5 million for the corresponding period for the year 2011, an increase of 95.6%. The increase in the net income compared with the same corresponding period of the year 2011 to the improvement in the Oil and Gas sector, General Cargo sector as well as profiting from Bahri Dry Bulk which started its operating from 2013. Also, lower fuel consumption cost due to Bahri adopted a new policy of slow speed of al vessels.