Riyadh – Mubasher: Middle East Specialized Cables Company (MESC) achieved net profits after Zakat and tax worth SAR 3.5 million during the first half (H1) of 2021, against losses of SAR 1.2 million in H1-20.
The earnings per share stood at SAR 0.09 in H1-21, versus a loss per share of SAR 0.03 in H1-20, according to a bourse filing on Sunday.
Revenues decreased by 7.6% to SAR 235.8 million in H1-21 from SAR 255.3 million in H1-20.
At the end of June this year, the accumulated losses reached SAR 64.4 million, accounting for 16.1% of the SAR 400 million capital.
As for the second quarter (Q2) of 2021, MESC turned profitable at SAR 2.7 million, against net losses of SAR 1.5 million in Q2-20. The revenues meanwhile grew by 7.8% to SAR 124.1 million from SAR 115.1 million.
