Saudi Cable Reports SAR 23.61M Net Profit in Three Months 2026
SAUDI CABLE 2110.SA | 0.00 |
On 2026-05-11 15:55:04 (Saudi Time), Saudi Cable Co. announced its Interim financial results for the three months ended on March 31, 2026.
| Element List | Current Quarter | Similar quarter for previous year | %Change | Previous Quarter | % Change |
|---|---|---|---|---|---|
| Sales/Revenue | 22,274 | 44,106 | -49.498 | 42,681 | -47.812 |
| Gross Profit (Loss) | -8,248 | -4,249 | 94.116 | -49,116 | -83.207 |
| Operational Profit (Loss) | -29,059 | -13,840 | 109.963 | -24,040 | 20.877 |
| Net Profit (Loss) Attributable to Shareholders of the Issuer | 23,614 | 46,658 | -49.389 | 101,299 | -76.688 |
| Total Comprehensive Income Attributable to Shareholders of the Issuer | 41,804 | 40,707 | 2.694 | 100,694 | -58.484 |
| All figures are in (Thousands) Saudi Arabia, Riyals | |||||
| Element List | Current Period | Similar period for previous year | %Change |
|---|---|---|---|
| Total Shareholders Equity (after Deducting Minority Equity) | -172,547 | -378,734 | -54.441 |
| Profit (Loss) per Share | 3.54 | 6.99 | |
| All figures are in (Thousands) Saudi Arabia, Riyals | |||
| Element List | Amount | Percentage of the capital (%) | |
|---|---|---|---|
| Profit (Losses) Resulting From The Change In Investment Propertie’s Fair Value | - | - | |
| Accumulated Losses | -251,218 | -376 | |
| All figures are in (Thousands) Saudi Arabia, Riyals | |||
Year-on-Year Performance Drivers
Sales declined 49.498% YoY to SAR 22.27 million due to operational and liquidity constraints, reduced customer advance payments that constrained working capital, and supply chain disruptions linked to geopolitical conditions. Net profit decreased 49.389% YoY to SAR 23.61 million, driven by lower revenue, higher administrative and marketing expenses from restructuring, increased Zakat expenses, and a 10% decline in profits from associate company Midal to SAR 55 million. The company recorded SAR 25.94 million profit from continuing operations but incurred SAR 2.33 million losses from discontinued activities.
Quarter-on-Quarter Performance Drivers
QoQ revenue declined 47.81% to SAR 22.27 million due to operational and liquidity constraints from reduced customer advance payments and supply chain disruptions linked to geopolitical conditions. Net profit fell 76.69% to SAR 23.61 million primarily driven by lower sales, higher administrative and Zakat expenses from restructuring, and a 6% decrease in associate company Midal's profit contribution to SAR 55 million. The company recorded SAR 25.94 million profit from continuing operations but incurred SAR 2.33 million losses from discontinued activities.
Other Items
The auditors issued an unmodified conclusion but highlighted material uncertainty related to going concern. Accumulated losses reached SAR 251,218 thousand, representing 376% of share capital, while current liabilities exceeded current assets by SAR 636 million as of March 31, 2026. These conditions cast significant doubt about the Group's ability to continue as a going concern and meet obligations when due. Management's forecasts for 2026 indicate net profit and positive cash flows through planned cash injections via rights issue instruments and revenue growth from future orders, though these involve material uncertainty regarding outcomes. Total shareholders equity remained negative at SAR 172,547 thousand, improving from the previous year's negative SAR 378,734 thousand.
Original announcement:
https://www.saudiexchange.sa/wps/portal/saudiexchange/newsandreports/issuer-news/issuer-announcements/issuer-announcements-details/?anId=95252&anCat=1&cs=2110&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.