“Musk” profits increased 37% to 30 million riyals during the second quarter

The net profit of the Middle East Company for Specialized Cables (Musk) for the current quarter reached 29.9 million riyals, compared to 21.8 for the same quarter of the previous year, an increase of 37.3%.
The net profit (Musk) for the first six months of 2025 amounted to 49.1 million riyals, compared to 47.7 million riyals for the same period of the previous year, an increase of 2.86%.

The second quarter profits from 2025

According to a statement by “Tadawul Saudi Arabia”, today, Monday, the company attributed the high profit for this quarter to the increase in sales by 52.43% over the same quarter of the previous year, as a result of an increase in sales volume for all types of cables.
On the other hand, sales and marketing expenses in the current quarter increased from their counterpart in the opposite quarter of the previous year by 33.31%, as a result of increasing sales volume and increasing product transfer expenses due to the increase in sales volume. Public and administrative expenses also increased by 19.97 as a result of the bank’s increase in research terms and strategic planning, and the salary and wages item.
The company pointed to the high cost of financing for the current quarter from the same quarter of the previous year by 22.15%, as a result of the increase in the volume of purchases of raw copper and other raw materials to cover the demand for sales, as well as the result of increasing the balance of future customers as a result of the increase in sales.
On the other hand, the zakat expenses in the current quarter decreased from the similar quarter of the previous year by 84.62%, as the Zakat expense for the current quarter was reduced by 3.7 million riyals as a result of obtaining the company for a final link for previous years.

The first half profits 2025

The company attributed the increase in profits during the first half of this year to the increase in sales in the current period compared to the same period in the previous year by 33.03% as a result of an increase in sales volume in all types of quantities, as well as the increase in the volume of project and retail sales.
She added: “The sales and marketing expenses increased for the current period compared to the similar period in the previous year by 32.25%, as a result of the increase in sales volume. Public and administrative expenses increased for the current period compared to the same period in the previous year by 4.27% as a result of increasing the expenses of research and strategic planning of the company as well as increasing salaries and wages.”
She pointed to the increase in the cost of financing for the current period compared to the similar period in the previous year by 19.91%, as a result of the increase in the volume of purchases of raw copper and other raw materials, as well as the result of increasing the assets of the future customers as a result of increasing sales.
On the other hand, the Zakat expense decreased for the current period from the same period in the previous year by 31.38% as a result of reducing the zakat expense by 3.7 million riyals as a result of the company’s receipt of final agents for earlier years.