Middle East Specialized Cables Co. (MESC) reported a net profit after Zakat and tax of SAR 100,000 in Q1 2022, a slump of 89% from SAR 900,000 in the year-earlier period.
| Item | Q1 2021 | Q1 2022 | Change |
|---|---|---|---|
| Revenues | 111.76 | 187.56 | 67.8 % |
| Gross Income | 14.73 | 14.22 | (3.5 %) |
| Operating Income | 5.32 | 3.89 | (26.9 %) |
| Net Income | 0.85 | 0.07 | (91.7 %) |
| Average Shares | 40.00 | 40.00 | - |
| EPS (Riyals) | 0.02 | 0.00 | (91.7 %) |
| Item | Q4 2021 | Q1 2022 | Change |
|---|---|---|---|
| Revenues | 144.80 | 187.56 | 29.5 % |
| Gross Income | 14.78 | 14.22 | (3.8 %) |
| Operating Income | (12.33) | 3.89 | 131.5 % |
| Net Income | (17.18) | 0.07 | 100.4 % |
| Average Shares | 40.00 | 40.00 | - |
| EPS (Riyals) | (0.43) | 0.00 | 100.4 % |
The profit decline was due to lower profit margins and increased expenses.
On a quarterly basis, MESC turned to profit, versus a net loss of SAR 17.2 million in Q4 2021.
Total shareholders’ equity, excluding minority interest, dropped 6.5% year-on-year to SAR 338.4 million by the end of Q1 2022.
Accumulated losses stood for 22.6% of capital, or SAR 90.5 million as of March 31, 2022.
Argaam Investment Company has updated the Privacy Policy of its services and digital platforms. Know more about our Privacy Policy here.
Argaam uses cookies to personalize content, to provide social media features and analyze traffic, that we might also share with third parties. You consent to our cookies if you use this website
Comments {{getCommentCount()}}
Be the first to comment
رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}
{{comment.DisplayName}}
{{comment.ElapsedTime}}