Feb 22 2011 |
more articles from
|
NSCSA Annual Consolidated Financial Results for the year ended 31st December 2010
The National Shipping Co. of Saudi Arabia ( NSCSA ) announced the annual consolidated financial results for the year ended 31st December 2010 as follows:Net profit, of SAR 414.9 million compared to SAR 369.3 million for the previous year, an increase of 12.3%.
Earning per Share from net profit (EPS), of SAR 1.32 compared to SAR 1.17 for the previous year.
Gross profit, of SAR 447.9 million compared to SAR 372.5 million for the previous year, an increase of 20.2%.
Operating profit, of SAR 344.1 million compared to SAR 277.5 million for the previous year, an increase of 24%.
The increase of net profit during 2010 compared to 2009 was due to the improvement in average time charter equivalent (TCE) rates in Very Large Crude Carrier (VLCC) spot market, also due to the cancellation of the contract to build seven chemical tankers through its subsidiary company National Chemical Carriers Ltd. Co. (80% owned) recovering a total compensation of SAR 15.1 million. Moreover, the audited net profit for the year ended 31st December 2010 compared to the unaudited showed an increase in the net profit of SAR 3.85 million due to the calculating addition of the profit share from the joint venture company between National Chemical Carriers (NCC) and Odfjell, Norwegian company.
-Ends-
Zawya Comment Policy
-
Zawya encourages you to add a comment to this discussion. You agree that when you add content to this discussion your comments will not:
1.1 Contain any material which is libelous or defamatory of any person, is obscene, offensive, hateful or inflammatory or causes damage to the reputation of any person or organisation.
1.2 Promote sexually explicit material, violence, discrimination based on race, sex, religion, nationality, disability, sexual orientation or age or any illegal activity.
1.3 Be made in breach of any legal duty owed to a third party, such as a contractual duty or a duty of confidence.
1.4 Be threatening, abuse or invade another's privacy, or cause annoyance, inconvenience or needless anxiety.
1.5 Be used to impersonate any person, to misrepresent your identity or affiliation with any person, or be likely to deceive any person.
1.6 Give the impression that they represent Zawya.
1.7 Advocate, promote or assist any unlawful act such as (by way of example only) copyright infringement or computer misuse. - The content posted on www.zawya.com is created by members of the public. The views expressed are theirs and unless specifically stated are not those of Zawya. Zawya reserves the right to review all comments prior to posting and edit or delete any contribution, but Zawya is not responsible for and can not be held liable for any content posted by members of the public on www.zawya.com.
- Zawya is not responsible for the availability or content of any third party sites that are accessible through www.zawya.com. Any links to third party websites from www.zawya.com do not amount to any endorsement of that site by Zawya and any use of that site by you is at your own risk.
- By submitting your comment, you hereby give Zawya the right, but not the obligation, to post, air, edit, exhibit, telecast, webcast, re-use, publish, reproduce, use, license, print, distribute or otherwise use your comments worldwide, in perpetuity.
Copyright © 2012 Zawya Ltd. All rights reserved. |
provided by www.zawya.com |
Post Your Comment