National Shipping Company of Saudi Arabia announces its Annual Financial Results for the Year Ending on 2020-12-31
|Element List||Current Year||Previous Year||%Change|
|Gross Profit (Loss)||2,121.79||1,427||48.688|
|Operational Profit (Loss)||1,865.93||1,223.02||52.567|
|Net Profit (Loss) after Zakat and Tax||1,571.11||620.7||153.119|
|Total Comprehensive Income||1,565.01||621.8||151.69|
|Total Share Holders Equity (after Deducting Minority Equity)||9,989.68||9,212.17||8.44|
|Profit (Loss) per Share||3.99||1.58|
|All figures are in (Millions) Saudi Arabia, Riyals|
|The reason of the increase (decrease) in the net profit during the current year compared to the last year is||The increase in net profit for the current year compared to the previous year is mainly due to the increase in revenue from several operating segments supported mainly by the growth in oil transport sector due to the rise of transportation rates in addition to the increase in number of voyages during the year. |
The increase in net profits during the year was also supported by, the decrease in financing expenses during the year compared to the previous year and recording profits in the group's share of results in equity accounted investee companies compared to losses realized in the previous year.
|Statement of the type of external auditor's report||Unmodified opinion|
|Reclassification of Comparison Items||Certain comparative figures of the previous year have been reclassified to match with the presentation of the current year.|
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