Riyadh – Mubasher: Saudi Cable Co. on Monday reported a sharp decline in losses by 59.7% in the first quarter of 2017, compared to the year-ago period.
Losses amounted to SAR 23.7 million down from SAR 58.7 million in Q1-16, according to a filing to the Saudi Stock Exchange (Tadawul).
Saudi Cable attributed the narrowing in losses to a decline in losses from operations after the company succeeded in improving its margins and trimming its operating expenses.
Saudi Cable previously forecast that it would report its Q1-17 results on 5 February, while its results for the second and third quarters would be published on 26 February and 19 March, respectively.
