Middle East Specialized Cables Co. announces its Annual Financial results for the period ending on 31-12-2024

19 March 2025 01:55 PM

MESC 2370 1.95% 33.42 0.64

Element List	Current Year	Previous Year	%Change
Sales/Revenue	1,143.9	926.9	23.41
Gross Profit (Loss)	195.2	152	28.42
Operational Profit (Loss)	111.7	77.1	44.88
Net profit (Loss)	91	48.9	86.09
Total Comprehensive Income	86.6	49.3	75.66
Total Shareholders Equity (after Deducting Minority Equity)	464.3	377.6	22.96
Profit (Loss) per Share	2.3	1.2
All figures are in (Millions) Saudi Arabia, Riyals

Element List	Amount	Percentage of the capital (%)
Profit (Losses) Resulting From The Change In Investment Propertie’s Fair Value	-	-
All figures are in (Millions) Saudi Arabia, Riyals

Element List	Explanation
The reason of the increase (decrease) in the sales/ revenues during the current year compared to the last year	Current year sales increased by 23.42% compared to previous year as a result of increase in sales orders volume in all sectors, especially in the oil and gas sector. The company have been qualified for more bidding/orders this year compared to last year.
The reason of the increase (decrease) in the net profit during the current year compared to the last year is	Net profit increased during the current year compared to previous year by 86.09% as a result of the increase in sales volume, profit margins improvement due to better products mix, a reduction in financing charges and an increase in other income all have resulted in operational excellence.
Statement of the type of external auditor's report	Unmodified opinion
Comment mentioned in the external auditor’s report, mentioned in any of the following paragraphs (other matter, conservation, notice, disclaimer of opinion, or adverse opinion)	N/A
Reclassification of Comparison Items	Certain comparative figures have been re-classified to conform to the presentation of the current period.
Additional Information	-

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