Middle East Specialized Cables Co. (MESC) reported a net profit after Zakat and tax of SAR 300,000 for Q1 2020, versus a net loss of SAR 10.6 million in year-earlier period, due to higher sales and improved profit margins.
| Item | Q1 2019 | Q1 2020 | Change |
|---|---|---|---|
| Revenues | 114.71 | 140.24 | 22.3 % |
| Gross Income | 10.48 | 20.40 | 94.7 % |
| Operating Income | (6.48) | 4.14 | 163.8 % |
| Net Income | (10.58) | 0.28 | 102.7 % |
| Average Shares | 40.00 | 40.00 | - |
| EPS (Riyals) | (0.26) | 0.01 | 102.7 % |
| Item | Q4 2019 | Q1 2020 | Change |
|---|---|---|---|
| Revenues | 115.70 | 140.24 | 21.2 % |
| Gross Income | 13.60 | 20.40 | 50.0 % |
| Operating Income | (3.64) | 4.14 | 213.7 % |
| Net Income | (7.82) | 0.28 | 103.6 % |
| Average Shares | 40.00 | 40.00 | - |
| EPS (Riyals) | (0.20) | 0.01 | 103.6 % |
On a sequential basis, the company swung to profit in Q1, versus net losses of SAR 7.82 million in Q4 2019.
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