Middle East Specialized Cables Co. (MESC) turned to a net profit after Zakat and tax of SAR 3.1 million for the first nine months of 2020, compared to a loss of SAR 16.8 million in the same period a year earlier, on higher sales, improved profit margins and lower expenses.
| Item | 9m 2019 | 9m 2020 | Change |
|---|---|---|---|
| Revenues | 352.48 | 391.42 | 11.0 % |
| Gross Income | 39.78 | 55.49 | 39.5 % |
| Operating Income | (5.08) | 13.63 | 368.2 % |
| Net Income | (16.77) | 3.10 | 118.5 % |
| Average Shares | 40.00 | 40.00 | - |
| EPS (Riyals) | (0.42) | 0.08 | 118.5 % |
The company turned to a profit of SAR 4.3 million in Q3 2020 from a loss of SAR 0.2 million in the same quarter last year and a loss of SAR 1.5 million in Q2 2020.
| Item | Q3 2019 | Q3 2020 | Change |
|---|---|---|---|
| Revenues | 118.61 | 136.09 | 14.7 % |
| Gross Income | 16.50 | 20.06 | 21.6 % |
| Operating Income | 3.66 | 7.67 | 109.6 % |
| Net Income | (0.18) | 4.28 | 2423.9 % |
| Average Shares | 40.00 | 40.00 | - |
| EPS (Riyals) | 0.00 | 0.11 | 2423.9 % |
| Item | Q2 2020 | Q3 2020 | Change |
|---|---|---|---|
| Revenues | 115.09 | 136.09 | 18.2 % |
| Gross Income | 15.03 | 20.06 | 33.5 % |
| Operating Income | 1.83 | 7.67 | 319.9 % |
| Net Income | (1.46) | 4.28 | 393.3 % |
| Average Shares | 40.00 | 40.00 | - |
| EPS (Riyals) | (0.04) | 0.11 | 393.3 % |
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