Dr. Waheeb A. Linjawi, Group President & Managing Director of Saudi Cable Company (SCC) has announced that the Companys Board of Directors has approved the consolidated un-audited financial results for the period ending 30-09-2008 that reflect a continuous increase in the net profit amounting to SR 263 million compared to the profit of SR 214 million which is 23% higher than the profit for the same period last year.
While the income per share for this period amounts to SR 3.46 as against SR 2.82 per share for the same period in 2007, the Company has achieved record sales amounting to SR 2743 million compared to SR 2267 million for the same period last year, thereby recording an increase of 21 % .
The Operating Profits for the period ending 30-09-2008 amounted to SR 298 million as against SR 239 million for the same period in 2007; an increase of SR 59 million, that is an increase of 25 %.
The profit for the third quarter of this year amounted to SR 92.3 million compared to the profit of SR 75.5 million for the third quarter of last year, an increase of 22 %.
This substantial increase in the Companys profits is attributed to an improved performance of all the Groups companies, both inside and outside the Kingdom, and increase in the profit margin compared to the same period in 2007.
In spite of the extremely turbulent financial conditions currently prevailing in the world markets, Dr. Linjawi expects that SCC will continue to achieve profitable results.
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.