Still depressed
Saudi Cable’s Q3 2016 revenues declined by 29.12% yoy, amounting to SAR348.48m. Revenues recognized since the beginning of the year stand at SAR1.209bn, a 17.45% drop compared to the SAR1.465bn realized during 9M 2015. Q3 2016’s cost of goods sold fell by 32% given the low activity volume, resulting in a gross margin improvement (+419 bps to stand at 7.2%). The net result, contrary to the two previous quarters, is positive, at SAR14.261m, representing also a considerable improvement compared to the same period last year (SAR-2.853m).Saudi Cable Co JSC is a Saudi Arabia-based company, which is engaged in the manufacture and supply electrical and telecommunication cables, copper rod, polyvinyl chloride (PVC) compounds, wooden reels and related products. The Company's product portfolio includes such products as: power cables, fire retardant and halogen acid gas-free cables, bare and insulated copper cables, fiber-optic and copper conductor communication cables, and copper and aluminum conductors, among others. It is also engaged in the contracting, trading, distribution and supply electronic products, information technology products and related accessories. The Company is delivered products and services to utilities, military, industrial, oil, gas, electrical, communication and commercial companies.
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