Saudi Cable Company net loss soars in 2013
The Tadawul All Share Index closed flat at 9,061.93 points on Tuesday, February 25. Saudi Cable Company gained 1.70 per cent to SAR12.10. SABIC fell by 0.43 per cent to SAR114.50. Earlier in the day, the firm said it suffered a net loss worth SAR29.12 million ($7.86m) in 2013, a worsening of 46.49 per cent over the previous year. The firm said the result was triggered by “inadequate funding causing a material disruption of the operations of the Group’s main operations where it remained under the break-even point by the limited resources available to it”. Seventy shares advanced, while 64 declined in value.