SISCO’s Q3 profit seen higher; mulls expansion: CEO

14/07/2015 Argaam

Saudi Industrial Services Company’s (SISCO) third quarter net profit is expected to improve, compared to the previous quarters, as the company’s activities usually pick up during the second and third quarters, and slows down in the first and fourth, its CEO, Mohammed al-Mudarres, said in an interview with CNB Arabiya television.

 

Fourth quarter profit is expected to slightly drop, he said, adding that the company’s business has improved this year, compared to last year.

 

SISCO is studying expansion plans which will be announced soon and their impact will be reflected in the next year’s result, he added.

 

SISCO’s first half profit grew to SAR 43.7 million, compared to SAR 34.1 million in the year ago period.

 

Through its subsidiaries, SISCO undertakes capital investment in various projects in Saudi Arabia, including desalination plants and free zone ports. 

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