Jan 22 2011 |
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NSCSA net sinks in fourth quarter
JEDDAH: National Shipping Company of Saudi Arabia (NSCSA) said its net profit for the fourth quarter of last year was SR51.5 million, compared to SR54.6 million in the same period a year ago, a decrease of 5.7 percent.
It fell 46.9 percent compared to a net profit of SR97 million in the third quarter of 2010.
Gross profit for fourth quarter last year was SR61.3 million, compared to SR79.3 million for fourth quarter in 2009, a decrease of 22.7 percent. Operating profit totaled SR30.5 million, compared to SR52.3 million in the period under review, a decrease of 41.7 percent.
For full year, net profit was SR411 million, compared to SR369.3 million for 2009, an increase of 11.3 percent.
Gross profit for 2010, totaled SR449.2 million, compared to SR372.5 million in 2009, an increase of 20.6 percent.
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