Middle East Specialized Cables Co. (MESC) reported a net profit of SAR 48.9 million for 2023, against a net loss of SAR 11.8 million a year earlier.
| Item | 2022 | 2023 | Change |
|---|---|---|---|
| Revenues | 814.40 | 926.88 | 13.8 % |
| Gross Income | 74.94 | 152.04 | 102.9 % |
| Operating Income | 25.70 | 77.14 | 200.1 % |
| Net Income | (11.79) | 48.94 | 515.1 % |
| Average Shares | 40.00 | 40.00 | - |
| EPS (Riyals) | (0.29) | 1.22 | 515.1 % |
The positive performance was due to the increase in sales volume and profit margins during the current year.
| Item | Q4 2022 | Q4 2023 | Change |
|---|---|---|---|
| Revenues | 228.09 | 262.51 | 15.1 % |
| Gross Income | 38.60 | 43.35 | 12.3 % |
| Operating Income | 25.95 | 20.84 | (19.7 %) |
| Net Income | (0.27) | 10.51 | 3990.6 % |
| Average Shares | 40.00 | 40.00 | - |
| EPS (Riyals) | (0.01) | 0.26 | 3990.6 % |
| Item | Q3 2023 | Q4 2023 | Change |
|---|---|---|---|
| Revenues | 229.89 | 262.51 | 14.2 % |
| Gross Income | 39.23 | 43.35 | 10.5 % |
| Operating Income | 21.33 | 20.84 | (2.3 %) |
| Net Income | 13.56 | 10.51 | (22.5 %) |
| Average Shares | 40.00 | 40.00 | - |
| EPS (Riyals) | 0.34 | 0.26 | (22.5 %) |
The company reported a net profit of SAR 10.5 million in Q4 2023, against a loss of SAR 270,000 in Q4 2022.
Sequentially, MESC’s profit fell 22.8% from SAR 13.56 million in Q3 2023.
Shareholders’ equity, no minority interest, rose to SAR 377.6 million as of Dec. 31, 2023, compared to SAR 328.3 million a year earlier.
Argaam Investment Company has updated the Privacy Policy of its services and digital platforms. Know more about our Privacy Policy here.
Argaam uses cookies to personalize content, to provide social media features and analyze traffic, that we might also share with third parties. You consent to our cookies if you use this website
Comments {{getCommentCount()}}
Be the first to comment
رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}
{{comment.DisplayName}}
{{comment.ElapsedTime}}