Financial Results : MESC H1 2025 profit up 3% to SAR 49.1M, Q2 at SAR 29.9M

MESC H1 2025 profit up 3% to SAR 49.1M, Q2 at SAR 29.9M

04/08/2025 Argaam Exclusive

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Middle East Specialized Cables Co. (MESC) posted a 3% profit increase in H1 2025 to SAR 49.1 million, compared with SAR 47.7 million in the year-earlier period.



Financials (M)

Item 6m 2024 6m 2025 Change‬
Revenues 541.18 719.92 33.0 %
Gross Income 103.24 110.78 7.3 %
Operating Income 60.33 62.43 3.5 %
Net Income 47.74 49.11 2.9 %
Average Shares 40.00 40.00 -
Earnings Per Share before unusual items (Riyals) 1.19 1.13 (5.0 %)
EPS (Riyal) 1.19 1.23 2.9 %

Sales for the current period increased by 33.03% year-on-year (YoY) due to the increase in sales volume of all types of cables.

 

Zakat expenses fell by 31.38% YoY on a SAR 3.7 reduction due to the company obtaining final assessments for previous years.

 

However, sales and marketing expenses in H1 2025 rose by 32.25% YoY, due to increased sales volume.

 

General and administrative expenses increased by 4.27% YoY, due to increased research and strategic planning expenses, as well as higher salaries and wages.

 

In Q2 2025, the company's earnings leapt by 37% to SAR 29.9 million, compared with SAR 21.78 million in Q2 2024, as sales increased by 52.43% YoY due to a rise in sales volume.

 

Sequentially, the three-month earnings jumped 55.7% from SAR 19.20 million in Q1 2025.



Current Quarter Comparison (M)

Compared With The
Item Q2 2024 Q2 2025 Change‬
Revenues 249.89 380.92 52.4 %
Gross Income 47.46 60.06 26.6 %
Operating Income 27.36 34.76 27.0 %
Net Income 21.78 29.91 37.3 %
Average Shares 40.00 40.00 -
Earnings Per Share before unusual items (Riyal) 0.54 0.65 20.1 %
EPS (Riyal) 0.54 0.75 37.3 %

Total shareholders’ equity, no minority interest, amounted to SAR 498.8 million as of June 30, 2025, up from SAR 425.4 million a year earlier.

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