Jul 19 2010 |
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The National Shipping Company of Saudi Arabia (NSCSA) Financial Results for the 6 months ended 30th June 2010
Mr. Humoud A. Al-Ajlan, Chief Executive Officer of The National Shipping Company of Saudi Arabia ( NSCSA ) announced today NSCSA 6-months financial results ending 30th June 2010NSCSA achieved a net profit, for 6-months up to June 30th 2010, of SAR 262.5 million (EPS SAR 0.83) compared to a net profit of SAR 258.7 million (EPS SAR 0.82 ) for the corresponding period for the year 2009, an increase of 1.5%. The net profit for the 2nd Quarter 2010 was SAR. 132.2 million vs. SAR. 107.7 million for the same quarter 2009 which reflected an increase of 22.8%.
Mr. Al-Ajlan explained that the increase of profit was due to the improved average rates of crude oil transportation and four VLCCs delivered in March, May, July and September of 2009.
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