Riyadh – Mubasher: Middle East Specialized Cables Company (MESC) suffered a net loss after Zakat and tax worth SAR 9.1 million during the third quarter (Q3) of 2021, versus profits of SAR 4.3 million in Q3-20.

Revenues inched down 0.14% to SAR 135.9 million in Q3-21 from SAR 136.1 million in Q3-20, according to the initial financial results.

During the first nine months of 2021, MESC also turned to net losses worth SAR 5.5 million against profits worth SAR 3.1 million in the same period last year.

The loss per share stood at SAR 0.14 at the end of September 2021, against earnings per share of SAR 0.08 in the prior-year period.

Sales declined by 5% to SAR 371.7 million in January-September 2021 from SAR 391.4 million in the corresponding period a year ago.