Net profit, for the fourth quarter totaled SAR 73 million compared to SAR 113.3 million for the corresponding quarter for the year 2011, a decrease of 35.6%, also compared to SAR 60.2 million for the previous quarter with an increase of 21.3 %.
Gross profit, for the fourth quarter totaled SAR 92.5 million compared to SAR 82.6 million for the corresponding quarter for the year 2011, an increase of 12 %.
Operating profit, for the fourth quarter totaled SAR 75.6 million compared to SAR 52.9 million for the corresponding quarter for the year 2011, an increase of 43%.
Net profit, for the 12-months 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 (EPS) SAR 1.59 from net profit, for the 12-months totaled SAR compared to SAR 0.91 for the corresponding period for the year 2011.
Gross profit, for the 12-months totaled SAR 572.5 million compared to SAR 339.2 million for the corresponding period for the year 2011, an increase of 69%.
Operating profit, for the 12-months 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 CEO of Bahri, Eng. Saleh Nasser Al-Jasser traced the decrease in the net profit during the fourth quarter compared with the same corresponding period of the year 2011 to the decrease in Petredec Limited profit (Bahri owns 30.3% share) as well as the deceasing in net income of The National Chemical Carriers Ltd. Co. (NCC) (Bahri owns 80 % share).
He also traced the increase in the net income during the 12-months period 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 (BDB) which started its operating from this year. Also, lower fuel consumption cost due to Bahri adopted a new policy of slow speed of all vessels.
In addition he traced the increase in the net profit during the fourth quarter compared with the previous quarter of the current year to the improvement in the General Cargo sector, increase in net income of The National Chemical Carriers Ltd. Co. (NCC) as well as an increase net income of Bahri Dry Bulk (BDB). Also, the increase of profit from Petredec Limited.
Some items have been reclassified for comparison purposes.
Bahri announces the sale of one of its general cargo vessels (Saudi Abha) 
The National Shipping Company of Saudi Arabia (Bahri) announces that in connection with the replacement program approved by its board of directors for the general cargo fleet, the Company has sold on the evening of Wednesday 16th of January,2013 it's general cargo vessel (Saudi Abha) for scrapping after completing her useful life.
This sale is expected to generate net profit about SAR(21) million after deducting its book value and all expenses associated with the sale.
The financial impact of this transaction will be reflected in the 1st Quarter of 2013 results.
It is worth mentioning that the Company had previously announced the signing of six ship building contracts to acquire six new general cargo vessels to replace the older fleet in this sector which has completed its useful life.
3 sister ships to Saudi Abha remain to be sold in sequence coinciding with the delivery of the first 4 new ships.
 

-- Source from National Shipping Company of Saudi Arabia (Bahri )