Middle East Specialized Cables Co. (MESC) trimmed net losses after Zakat and tax to SAR 24.6 million for the fiscal year 2019, compared to net losses of SAR 80.1 million a year earlier.
The losses narrowed on better profit margins and lower costs.
Accumulated losses stood at SAR 69.4 million as of Dec. 31, 2019, accounting for 17.4% of total capital.
| Item | 2018 | 2019 | Change |
|---|---|---|---|
| Revenues | 591.86 | 468.18 | (20.9 %) |
| Gross Income | 48.13 | 53.38 | 10.9 % |
| Operating Income | (62.98) | (8.72) | 86.2 % |
| Net Income | (80.11) | (24.58) | 69.3 % |
| Average Shares | 40.00 | 40.00 | - |
| EPS (Riyals) | (2.00) | (0.61) | 69.3 % |
In Q4 2019, the company incurred net losses of SAR 7.8 million, compared to net losses of SAR 37 million in year earlier period.
| Item | Q4 2018 | Q4 2019 | Change |
|---|---|---|---|
| Revenues | 134.48 | 115.70 | (14.0 %) |
| Gross Income | 14.32 | 13.60 | (5.0 %) |
| Operating Income | (32.66) | (3.64) | 88.9 % |
| Net Income | (37.07) | (7.82) | 78.9 % |
| Average Shares | 40.00 | 40.00 | - |
| EPS (Riyals) | (0.93) | (0.20) | 78.9 % |
| Item | Q3 2019 | Q4 2019 | Change |
|---|---|---|---|
| Revenues | 118.61 | 115.70 | (2.4 %) |
| Gross Income | 16.50 | 13.60 | (17.6 %) |
| Operating Income | 3.66 | (3.64) | (199.4 %) |
| Net Income | (0.18) | (7.82) | (4,147.3 %) |
| Average Shares | 40.00 | 40.00 | - |
| EPS (Riyals) | 0.00 | (0.20) | (4,147.3 %) |
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