The financial data of the Saudi Cable Company showed that the company's losses in the first nine months of this year decreased by 88.7% on an annual basis.
According to the company's results for the Saudi market (Tadawul), today, Wednesday, losses for the period amounted to 8.374 million riyals, compared to losses of 74.206 million riyals in the first nine months of 2019.
The company said in a statement to the Stock Exchange that the decline in losses during the comparison periods is due to 4 reasons, which are the high volume of sales with low profit margins, high operating expenses and financial cost, high income The other, the higher the share of loss of the associated companies.
At the level of the third quarter of this year, the company turned to profit of 51,405 million riyals, compared to losses for the same period of last year of 23.791 million riyals.
