MIDDLE EAST SPECIALIZED CABLES COMPANY 1443/03/27 Tue Nov 2, 2021 15:22:02
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| Element List | Current Quarter | Similar quarter for previous year | %Change | Previous Quarter | % Change |
| Sales/Revenue | 135.9 | 136.1 | -0.146 | 124.1 | 9.508 |
| Gross Profit (Loss) | 7.7 | 20.1 | -61.691 | 15.2 | -49.342 |
| Operational Profit (Loss) | -5.3 | 7.9 | - | 6.7 | - |
| Net Profit (Loss) after Zakat and Tax | -9.1 | 4.3 | - | 2.7 | - |
| Total Comprehensive Income | -9.1 | 4.3 | - | 2.7 | - |
| All figures are in (Millions) Saudi Arabia, Riyals |
| Element List | Current Period | Similar period for previous year | %Change |
| Sales/Revenue | 371.7 | 391.4 | -5.033 |
| Gross Profit (Loss) | 37.6 | 55.5 | -32.252 |
| Operational Profit (Loss) | 6.8 | 13.8 | -50.724 |
| Net Profit (Loss) after Zakat and Tax | -5.5 | 3.1 | - |
| Total Comprehensive Income | -5.5 | 3.1 | - |
| Total Share Holders Equity (after Deducting Minority Equity) | 355.5 | 362.6 | -1.958 |
| Profit (Loss) per Share | -0.14 | 0.08 | |
| All figures are in (Millions) Saudi Arabia, Riyals |
| Accumulated Losses | Capital | Percentage % |
| 73.4 | 400 | 18.4 |
| All figures are in (Millions) Saudi Arabia, Riyals |
| Element List | Explanation |
| The reason of the increase (decrease) in the net profit during the current quarter compared to the same quarter of the last year is | The reason for achieving net loss during current quarter compared to net profit during similar quarter of last year is due to the decrease in profit margins in current quarter. |
| The reason of the increase (decrease) in the net profit during the current quarter compared to the previous period of the current year is | The reason for achieving net loss during current quarter compared to net profit during previous quarter is due to the decrease in profit margins in current quarter and decrease in selling and marketing expenses during last quarter. |
| The reason of the increase (decrease) in the net profit during the current period compared to the same period of the last year is | The reason for achieving net loss during current period compared to net profit during similar period of last year is due to the decrease in sales volume and profit margins in current period. The effect of this decrease was partially reduced by decrease in selling and marketing expenses during current period. |
| Statement of the type of external auditor's report | Qualified conclusion |
| Modification, Qualification or Emphasis of a Matter as Stated within the External Auditor Opinion | During our review of the minutes of the Board of Directors and the assurances of the Company's legal advisor, we found that there are litigations arising from the syndicated loan where the loan value is 75 million US Dollar granted by Jordanian banks to the Middle East Specialized Cable Company (MESC Jordan) and MESC Medium and High Voltage Cables Company. The possible financial impact of the litigations is currently assessed between the Company's management and the legal advisors as described in Note (16). We were unable, through the evidences we obtained, to determine the possible financial impact of these litigations on the interim condensed consolidated financial statements of the Company (MESC KSA) for the nine-month period ended 30 September 2021 and related disclosures, and as a result of these matters, we were unable to determine whether adjustments might have been necessary in respect to the elements making up the condensed consolidated interim financial statements. |
| Reclassification of Comparison Items | Certain comparative figures of similar period of last year have been re-classified to conform to the presentation of the current period. |
The Capital Market Authority and the Saudi Stock Exchange take no responsibility for the contents of this disclosure, make no representations as to its accuracy or completeness, and expressly disclaim any liability whatsoever for any loss arising from, or incurred in reliance upon, any part of this disclosure, and the issuer accepts full responsibility for the accuracy of the information contained in it and confirms, having made all reasonable enquiries, that to the best of their knowledge and belief, there are no other facts or information the omission of which would make the disclosure misleading, incomplete or inaccurate.
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MESC - Middle East Specialized Cables Co. SJSC published this content on 02 November 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 02 November 2021 12:29:07 UTC.
