Riyadh – Mubasher: Saudi Cable Company revealed its interim financial results for the second quarter of 2018.
Net losses after zakat and tax declined by 81.16% to SAR 18.3 million in Q2-19, compared to SAR 97.2 million in Q2-18, according to the company’s statement to the Saudi Stock Exchange (Tadawul) on Tuesday.
The company attributed the drop in losses to the lower volume in Q2-19, which was partly compensated by margins from an improved product mix, as compared to the same quarter of last year.
Total revenues retreated by 64% year-on-year to SAR 90.5 million during the three-month period between April and June.
For the first half of 2019, net losses of Saudi Cable plunged by 57.26% to SAR 50.4 million, from SAR 117.9 million in H1-18.
Revenues of the Saudi firm decreased by 63.37% to SAR 193 million in H1-19, versus SAR 527 million in the same period of the prior year.
Loss per share stood at SAR -4.56 during the first six months of 2019, compared to SAR -2.92 in the corresponding period of FY18.
