NO. 27


Saudi Arabia

NSC's Profits Continue To Slip

Saudi Arabia's National Shipping Company (NSC) in 1993 reported a 7.8%decline in net profits to SR188mn ($50mn) from SR204mn ($54mn) in 1992,according to the company's results. The company realized a record profit ofSR515mn ($137mn) in 1991, when business increased dramatically as a result ofthe Gulf War. NSC's board of directors has proposed the disbursement of SR140mn($37mn) in cash dividends to shareholders in 1993 (or...