Riyadh – Mubasher: Middle East Specialized Cables (MESC) turned to profits in the first quarter of 2017.

Net profits amounted to SAR 3.86 million in Q1-17, against net losses of SAR 5.08 million in Q1-16, according to a bourse filing on Tuesday.

Posting profits in the first quarter of this year was due to lower overall expenses after the deconsolidation of the Jordanian subsidiary (MESC Jordan) which took place in the second quarter of last year.

Sales fell 13.7% to SAR 194.1 million in Q1-17 compared to SAR 225 million in Q1-16.