Riyadh – Mubasher: Saudi Cable Co. achieved SAR 18.2 million ($4.85 million) losses in the second quarter of 2016 against SAR 880,000 ($234,600) net profits Q2-15.
The Q2 losses were attributed to lower profit share from associates and no recovery for doubtful debts provision, according to a bourse filing on Thursday.
The company’s losses surged 862.3% to SAR 67.94 million in the first six months of 2016 from SAR 7.06 million in the year-ago period.
