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Saudi Cable Co. reports mixed quarterly results, shares slip
- Saudi Arabia: Sunday, April 21 - 2013 at 18:23
The Riyadh-based Tadawul All-Share Index closed Sunday trading unchanged at 7,099.17 points. Saudi Cable Company fell 1.43% to SR13.75. In Q1 2013, the firm suffered a net loss of SR15.41m as against net profit of SR 25.16m for the same quarter of last year and against a loss of SR154.44m for Q4 2012, a decrease of 90%. "The reasons for the reduction in loss during the current quarter compared to the earlier quarter of the year 2012 were higher sales volume and lower margins," said Saudi Cable Co. in a statement to the Tadawul bourse.
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Gérard Al-Fil, Financial JournalistSunday, April 21 - 2013 at 18:23 UAE local time (GMT+4)
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