Riyadh – Mubasher: The Saudi Electricity Company (SEC) on Wednesday posted a 52% hike in its profits for the full year 2017.
Profits amounted to SAR 6.9 billion last year, up from SAR 4.55 billion in 2016, according to a filing to the Saudi Stock Exchange (Tadawul).
The state-controlled utility attributed the annual profit increase to the company's exemption from municipals charges, according to the statement.
Moreover, operating revenues rose 2% to SAR 50.62 billion in 2017, compared to SAR 49.86 billion a year earlier.
By the end of Tuesday’s session, Eastern Cement’s stock inched up 0.05% at SAR 21.09
