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Middle East Specialized Cables Co. — Earnings Release 2020
Mar 25, 2021
53335_rns_2021-03-25_8de16de1-4b7e-4f09-ba0c-c98bb1e4ac7b.html
Earnings Release
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Middle East Specialized Cables Co. announces its Annual Financial Results for the Period Ending on 2020-12-31
2370 · 25/03/2021 15:37:53 · Announcement #62420 · View on Saudi Exchange
Middle East Specialized Cables Co. announces its Annual Financial Results for the Period Ending on 2020-12-31
| Element List | Current Year | Previous Year | %Change |
|---|---|---|---|
| Sales/Revenue | 525.6 | 468.2 | 12.259 |
| Gross Profit (Loss) | 80.6 | 53.4 | 50.936 |
| Operational Profit (Loss) | 30.9 | -8.7 | - |
| Net Profit (Loss) after Zakat and Tax | 2.1 | -24.6 | - |
| Total Comprehensive Income | 1.5 | -25.3 | - |
| Total Share Holders Equity (after Deducting Minority Equity) | 361.1 | 359.5 | 0.445 |
| Profit (Loss) per Share | 0.05 | -0.61 | |
| All figures are in (Millions) Saudi Arabia, Riyals |
| Element List | Explanation |
|---|---|
| The reason of the increase (decrease) in the net profit during the current year compared to the last year is | The reason for achieving net profit during current year compared to net loss during last year is due to: |
1- Increase in sales volume during current year.
2- Decrease in expenses during current year except Zakat provision. Statement of the type of external auditor's report Unmodified opinion Modification, Qualification or Emphasis of a Matter as Stated within the External Auditor Opinion Nothing Reclassification of Comparison Items Certain comparative figures of last year have been re-classified to conform to the presentation of the current year. Additional Information The accumulated losses amounted to SR 67.9 million as of 31-12-2020 represent 17% of share capital of SR 400 million as of 31-12-2020
The Capital Market Authority and Saudi Exchange take no responsibility for the contents of this disclosure, make no representations as to its accuracy or completeness, and expressly disclaim any liability whatsoever for any loss arising from, or incurred in reliance upon, any part of this disclosure, and the issuer accepts full responsibility for the accuracy of the information contained in it and confirms, having made all reasonable enquiries, that to the best of their knowledge and belief, there are no other facts or information the omission of which would make the disclosure misleading, incomplete or inaccurate.