“Saudi Cables” shares has risen to the highest price in 44 months

The share of the Saudi cable company, which is included in the Saudi market, “Tadawul”, increased by 6.48% during trading today, to trade at the price of 147.80 riyals per share, achieving its highest level in 44 months.

180.66 thousand shares of the Saudi Cable Company were traded at that time, with a value of trading 26.01 million pounds.

The highest price for the share was at that time at 147.80 riyals per share, while the lowest price was at 140 riyals, to touch the highest price in 3 years, 8 months and 28 days.

The Saudi Cable Company announced its achievement of a net profit of 46.66 million riyals during the first quarter of 2025, compared to a net loss of 4.85 million riyals during the same period in 2024.

Cable factory

The company attributed this positive transformation in its financial results to the application of effective measures to control costs and improve the efficiency of operation, as well as low administrative and financing expenses, which contributed to supporting financial performance.

The company’s revenues recorded a remarkable growth of 251% to 44.1 million riyals, compared to 12.57 million riyals in the first quarter of last year, driven by increasing demand, expanding the customer base, and securing new projects.

The total total income increased to about 40.7 million riyals, compared to 3.6 million riyals in the same period of the previous year, and the share profitability reached 6.99 riyals, compared to a loss of 0.73 riyals.

Despite the improvement in the results, the company still faces financial challenges, as the accumulated losses amounted to 430.1 million riyals, equivalent to 645% of the capital.