Riyadh – Mubasher: Middle East Specialised Cables Company (MESC) has reported a 97.62% year-on-year loss decline during the third quarter of 2019.

The company’s loss dropped to SAR 200,000 in Q3-19, compared to SAR 8.4 million in the year-ago period, according to a bourse statement released on Wednesday.

In the first nine months of 2019, MESC’s loss went down to SAR 16.8 million, from SAR 43 million a year earlier.

Accumulated loss reached SAR 60.9 million at the end of September, accounting for 15.2% of the company’s capital.

In the second quarter of 2019, MESC’s net losses after zakat and tax fell by 76.28% to SAR 6 million, compared to SAR 25.3 million in Q2-18.