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Saudi Cable is winning back the lost ground
Following satisfying 9M achievements, after three tough years (sales growth of -16%, -8.93% and -29.9% in 2012, 2013 and 2014, respectively). Saudi Cable continues its upward trend as it recorded a sales increase of 11.14% at Q4 2015, contributing to an improvement of 11.75% of the annual revenues, yoy, at SAR1918.059M. For the first time after three years of losses, the net income is positive at SAR1.687M.
A little breath for the cables
Saudi Cable has achieved a remarkable Q3 2015. The company begun the year with increasing revenues for the first time after three years of under-performing business. This positive trend expanded over the next two quarters as the company's sales climbed by 6.5% and 24.5% in Q2 2015 and Q3 2015, respectively, leading the 9M revenues to grow by 13.09% yoy. Though still negative, the net result has also witnessed an important improvement, moving from SAR-141.740M in 9M 2014 to SAR-9.914M in 9M 2015.
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