Saudi Cables’ Profits Soar 361.7% in Q3 to SAR 17.2 Million 

Saudi Cables Company reported a sharp rise in net profit for the third quarter of 2024, reaching 17.2 million riyals, a 361.7% increase from 3.7 million riyals in the same quarter of last year, following its financial results for the period ending September 30, 2024.

The company’s operating loss decreased to 18.5 million riyals in Q3, down 20% from 23.2 million riyals in the same quarter of the prior year.

During the first nine months of 2024, net subscriptions amounted to 42.9 million riyals, a 29.7% decrease from 61.16 million riyals in the same period of last year. Investments in stocks for the current period stood at 6.44 riyals per share, compared to 9.17 riyals per share in the previous year.