The profits of “Saudi Cables” jump 174% to 48.75 million riyals in 2024

The profits of the Saudi Cable Company in 2024 jumped by 173.9% to 48.75 million riyals, compared to 17.80 million riyals in 2023.
According to the company’s statement on Saudi Arabia’s circulation, the profits rise is a noticeable increase in revenue, which led to a high profit.
The reasons included: effective measures to control costs and improve operational efficiency.
The low costs of management, sale and financing contributed to improving net profit.
The company’s share of the company’s colleague Midal’s profits reached 127 million, or a growth rate of 90% compared to last year.
The company registered from the continuous activities a net profit of 66,275 million riyals as a result of the company’s share in the results of the sister company, while a net loss of unusual activities incurred (17,517) million riyals resulting from the company’s subsidiary business in Turkey, so that the net profit becomes 48,758 million riyals.