Riyadh – Mubasher: Saudi Cable Company registered net losses after Zakat and tax worth SAR 55.06 million in the first half (H1) of 2021, lower by 7.8% than SAR 59.77 million in H1-20.
Revenues decreased by 48% to SAR 105.2 million in H1-21 from SAR 204.71 million in H1-20, according to the financial results on Tuesday.
At the end of June 2021, the accumulated losses amounted to SAR 117.48 million, representing 32.58% of the SAR 360.61 million capital.
In the second quarter (Q2) of 2021, the company logged net losses worth SAR 19.18 million, higher by 15.7% than SAR 16.58 million in Q2-20.
Revenues declined by 71.5% to SAR 41.34 million in Q2-21 from SAR 145.18 million in Q2-20.
On a quarterly basis, the net losses in Q2-21 were 46.5% lower than SAR 35.88 million in Q1-21, and the revenues shrank by 35% from SAR 63.85 million.
