MESC’s accumulated losses reach 19.55% of capital

03/08/2023 Argaam

MESC’s accumulated losses reach 19.55% of capital

Logo of Middle East Specialized Cables Co. (MESC)

Middle East Specialized Cables Co. (MESC) announced that its accumulated loss dropped to SAR 78.2 million, or 19.55% of capital, as of June 30, 2023, the company said in a statement to Tadawul.

 

The lower losses were attributed to the net profit generated by the company during the current period, thanks to higher sales volume and profit margins.

 

MESC reported a net profit of SAR 24.9 million in H1 2023 against a net loss of SAR 11.8 million in the prior-year period.

 

To view the chartered accountant's report, click here:

The Chartered Accountant's Report

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