“Musk” profits jump 86% to 91 million riyals at the end of 2024

The profits of the Middle East Company for Specialized Cables (Musk) jumped in 2024 by 86% to 91 million riyals, compared to 48.9 million riyals in 2023.
According to the company’s statement on the circulation of Saudi Arabia, the net profit increased during the current year compared to the previous year, as a result of the high sales volume and the improvement of the profit margin as a result of the improvement of the sales mix of products.
The reasons included: low financing expenses and other revenues increased compared to last year, which all led to an improvement in the company’s operational efficiency.