MESC’s accumulated losses reach 19.55% of capital

03/08/2023 Argaam
Logo ofMiddle East Specialized Cables Co. (MESC)

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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