Saudi Cable trims losses by 1.78% for FY2019

31/03/2020 Argaam Exclusive

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Saudi Cable Co. trimmed net losses after Zakat and tax by 1.78% year-on-year (YoY) to SAR 61.8 million for FY2019, driven by cutting costs and waiving off financing costs owed by a lender.

The company also cited a debt-restructuring agreement with two lenders and a Zakat claim settlement.

Financials (M)

Item	2018	2019	Change‬
Revenues	865.02	381.27	(55.9 %)
Gross Income	(95.87)	(35.18)	63.3 %
Operating Income	(208.13)	(107.40)	48.4 %
Net Income	(62.95)	(61.83)	1.8 %
Average Shares	4.18	4.18	0.0 %
EPS (Riyals)	(15.06)	(14.79)	1.8 %

Current Quarter Comparison (M)

Compared With The

Item	Q4 2018	Q4 2019	Change‬
Revenues	158.96	106.61	(32.9 %)
Gross Income	(70.73)	(12.45)	82.4 %
Operating Income	(105.35)	(21.60)	79.5 %
Net Income	70.72	12.38	(82.5 %)
Average Shares	4.18	4.18	0.0 %
EPS (Riyals)	16.92	2.96	(82.5 %)

Item	Q3 2019	Q4 2019	Change‬
Revenues	81.63	106.61	30.6 %
Gross Income	(1.66)	(12.45)	(650.4 %)
Operating Income	(22.09)	(21.60)	2.2 %
Net Income	(23.79)	12.38	152.0 %
Average Shares	4.18	4.18	-
EPS (Riyals)	(5.69)	2.96	152.0 %

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