MESC turns to profit of SAR 3.1 mln in 9M 2020

05/11/2020 Argaam Exclusive

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Middle East Specialized Cables Co. (MESC) turned to a net profit after Zakat and tax of SAR 3.1 million for the first nine months of 2020, compared to a loss of SAR 16.8 million in the same period a year earlier, on higher sales, improved profit margins and lower expenses.

Financials (M)

Item	9m 2019	9m 2020	Change‬
Revenues	352.48	391.42	11.0 %
Gross Income	39.78	55.49	39.5 %
Operating Income	(5.08)	13.63	368.2 %
Net Income	(16.77)	3.10	118.5 %
Average Shares	40.00	40.00	-
EPS (Riyals)	(0.42)	0.08	118.5 %

The company turned to a profit of SAR 4.3 million in Q3 2020 from a loss of SAR 0.2 million in the same quarter last year and a loss of SAR 1.5 million in Q2 2020.

Current Quarter Comparison (M)

Compared With The

Item	Q3 2019	Q3 2020	Change‬
Revenues	118.61	136.09	14.7 %
Gross Income	16.50	20.06	21.6 %
Operating Income	3.66	7.67	109.6 %
Net Income	(0.18)	4.28	2423.9 %
Average Shares	40.00	40.00	-
EPS (Riyals)	0.00	0.11	2423.9 %

Item	Q2 2020	Q3 2020	Change‬
Revenues	115.09	136.09	18.2 %
Gross Income	15.03	20.06	33.5 %
Operating Income	1.83	7.67	319.9 %
Net Income	(1.46)	4.28	393.3 %
Average Shares	40.00	40.00	-
EPS (Riyals)	(0.04)	0.11	393.3 %

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