The state-owned company said net profit to 30 September was SAR 146.1m ($38.95m), up from SAR 60.2m in the same period of 2012.

It attributed the improvement to an increase in profit from its 30.3% holding in Petredec, plus better results from its Saudi units and an SAR 17.6m gain from selling an old ro-ro.

But the nine-month net profit dropped to SAR 423m from SAR 427.4m