Saudi Cable Company (SCC) has announced its interim financial results for the period ending 31 March 2010:
1.
Net profits for the first quarter of 2010 were SAR 1.07 million compared to SAR 46.27 million during the same period in 2009, representing an decrease of 98 percent, and compared to loss of SAR 9.1 million posted in the previous quarter.
2.
Gross profit for the first quarter of 2010 was SAR 29.15 million, compared to gross profit of SAR 108.10 million for the same period in 2009, a decrease of 73 percent.
3.
Operating loss during the first quarter amounts to 5.81million as against profit of 57.93 million for the same period in 2009.
4.
the profit per share during the three months amount to to SAR 0.01 against SAR 0.61in the same period in 2009.
5.The decrease is because of the delay in receipt of orders in Turkish Operations and also delay in shipment of other orders which had been paid for.
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