Financial Results : MESC turns to SAR 300,000 profit in Q1 2020

MESC turns to SAR 300,000 profit in Q1 2020

12/05/2020 Argaam Exclusive

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Middle East Specialized Cables Co. (MESC) reported a net profit after Zakat and tax of SAR 300,000 for Q1 2020, versus a net loss of SAR 10.6 million in year-earlier period, due to higher sales and improved profit margins.



Current Quarter Comparison (M)

Compared With The
Item Q1 2019 Q1 2020 Change‬
Revenues 114.71 140.24 22.3 %
Gross Income 10.48 20.40 94.7 %
Operating Income (6.48) 4.14 163.8 %
Net Income (10.58) 0.28 102.7 %
Average Shares 40.00 40.00 -
EPS (Riyals) (0.26) 0.01 102.7 %

On a sequential basis, the company swung to profit in Q1, versus net losses of SAR 7.82 million in Q4 2019.

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