Middle East Specialized Cables Reports SAR 101.7M Net Profit in 2025
MESC 2370.SA | 0.00 |
On 2026-03-31 16:17:52 (Saudi Time), Middle East Specialized Cables Co. announced its Annual financial results for the twelve months ended on December 31, 2025.
| Element List | Current Year | Previous Year | %Change | ||
|---|---|---|---|---|---|
| Sales/Revenue | 1,482 | 1,143.9 | 29.56 | ||
| Gross Profit (Loss) | 237.5 | 200.8 | 18.28 | ||
| Operational Profit (Loss) | 134.2 | 117.4 | 14.31 | ||
| Net Profit (Loss) Attributable to Shareholders of the Issuer | 101.7 | 91 | 11.76 | ||
| Total Comprehensive Income Attributable to Shareholders of the Issuer | 114.5 | 86.6 | 32.22 | ||
| Total Shareholders Equity (after Deducting Minority Equity) | 535.8 | 464.3 | 15.4 | ||
| Profit (Loss) per Share | 2.5 | 2.3 | |||
| All figures are in (Millions) Saudi Arabia, Riyals | |||||
| Element List | Amount | Percentage of the capital (%) | |
|---|---|---|---|
| Profit (Losses) Resulting From The Change In Investment Propertie’s Fair Value | - | - | |
| All figures are in (Millions) Saudi Arabia, Riyals | |||
| Element List | Explanation |
|---|---|
| The reason of the increase (decrease) in the sales/ revenues during the current year compared to the last year | The company's sales increased during the current year compared to the previous year by 29.56%, as a result of the increase in sales volume in the projects and retail sectors, all of which contributed significantly to revenue growth. The increase in the sales volume of power cables also had a positive impact on the sales growth in both sectors. It should be noted that the rise in raw copper prices had a positive effect on increasing the selling price of all products, which positively impacted the increase in sales value during the latter part of the year 2025. |
| The reason of the increase (decrease) in the net profit during the current year compared to the last year is |
The net profit for the current year amounted to 101.66 million Saudi Riyals, compared to 90.99 million Saudi Riyals for the previous year, an increase of 11.72%. This is attributed to the following:
The 29.56% increase in sales had a significant impact on the growth of the company's net profits. The profit margin ratio was affected by the change in the sales mix, as the profit margin ratio decreased by 153 basis points compared to last year. However, the gross profit value increased by 18.29%, which contributed to the improvement in net profit. Selling and marketing expenses also increased by 28.25% as a result of the increase in sales volume and higher transportation and shipping expenses due to increased fuel prices. General and administrative expenses also increased by 22.45% due to an increase in the wages item and consulting expenses. The increase in finance charges is attributed to the increased volume of raw copper purchases, as well as the expansion in credit sales, which significantly required working capital financing |
| Statement of the type of external auditor's report | Unmodified opinion |
| Comment mentioned in the external auditor’s report, mentioned in any of the following paragraphs (other matter, conservation, notice, disclaimer of opinion, or adverse opinion) | N/A |
| Reclassification of Comparison Items | Certain comparative figures have been re-classified to conform to the presentation |
| Additional Information | - |
Year-on-Year Performance Drivers
Sales increased 29.56% YoY to SAR 1,482 million, driven by higher sales volumes in projects and retail sectors, increased power cable sales, and rising copper prices that positively impacted selling prices. Net profit rose 11.76% to SAR 101.7 million despite a 153 basis point decline in profit margins due to sales mix changes. The profit growth was supported by the substantial revenue increase and 18.28% growth in gross profit, though partially offset by higher selling and marketing expenses (up 28.25%) and increased general and administrative costs (up 22.45%). Finance charges also increased due to expanded raw copper purchases and greater working capital requirements from credit sales growth.
Other Items
The auditors issued an unmodified opinion with no material uncertainties, qualifications, or adverse comments reported. The company shows strong financial performance with total shareholders equity increasing 15.4% to SAR 535.8 million and earnings per share improving from SAR 2.3 to SAR 2.5. Total comprehensive income attributable to shareholders grew significantly by 32.22% to SAR 114.5 million, exceeding net profit growth due to other comprehensive income components. Certain comparative figures were reclassified to conform to current year presentation standards.
Original announcement:
https://www.saudiexchange.sa/wps/portal/saudiexchange/newsandreports/issuer-news/issuer-announcements/issuer-announcements-details/?anId=94074&anCat=1&cs=2370&locale=arImportant Notice: The announcement information and market data in this report are sourced directly from the Saudi Exchange (Tadawul). This summary is generated by Sahm’s proprietary AI model for informational purposes only. While we strive for accuracy, it should not be construed as financial advice or an investment recommendation.