Big up!
The largest utility company in the MENA region, Saudi Electricity, announces its interim financial results for the nine month period ended 30 September, 2016. 9M 2016 total revenues increased by 20.5% to SAR39.2bn. The company has also reported a 21% increase in electricity sales in 9M 2016 over the corresponding period of 2015. The Net profit attributable to SEC shareholders during the 9M 2016 is SAR4,456m against SAR2,952m in 9M 2015.Saudi Electricity is an electric company based in Saudi Arabia. Co. is a major provider of electric power all over the Kingdom of Saudi Arabia, serving governmental, industrial, agricultural, commercial sectors, and residential consumers. Co. is a tariff regulated (subject to tariff control) electricity company. Electricity tariffs are determined by the Council of Ministers based on recommendations from the Electricity and Co-generation Regulatory Authority.
AlphaMena is the MENA stocks leader in independent equity research, covering 142. MENA securities spanning across 19 sectors and 8 countries relaying on a team of 11 analysts. The breadth of coverage allows AlphaMena to formulate a coherent view on markets, sectors and to highlight the best investments in Mena zone using a robust homogeneous and transparent methodology, enabling pure and pertinent comparisons based on financial and extra-financial criteria.
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