MESC Announces End of Accumulated Losses, Reports Start of Retained Earnings

Middle East Specialised Cables Co. “MESC” announced on Wednesday the end of its accumulated losses and the start of achieving retained earnings on July 31, 2024.

The company said in a statement today on “Tadawul” that the measures it took to reduce its accumulated losses are mainly due to the increase in sales and the improvement of profit margins during the previous period.

The company explained that the executive management is working in accordance with the Board of Directors’ directives to improve operational efficiency and rationalise costs to increase its profitability.