Middle East Specialized Cables Company reported earnings results for the second quarter and six months ended June 30, 2023. For the second quarter, the company reported sales was SAR 215.92 million compared to SAR 198.17 million a year ago. Net income was SAR 12.43 million compared to net loss of SAR 11.84 million a year ago. Basic earnings per share from continuing operations was SAR 0.31 compared to basic loss per share from continuing operations of SAR 0.3 a year ago.
For the six months, sales was SAR 434.48 million compared to SAR 385.73 million a year ago. Net income was SAR 24.87 million compared to net loss of SAR 11.77 million a year ago. Basic earnings per share from continuing operations was SAR 0.62 compared to basic loss per share from continuing operations of SAR 0.29 a year ago.