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Saudi Cable Q2 profit drops 86.4%
The profits of Saudi Cables Company declined by 86.44% in the second quarter of 2026, reaching 2.47 million SAR compared to 18.23 million SAR in the same period of the previous year. This decline is attributed to a 13.77% drop in revenues to 26.04 million SAR, and increased costs resulting from rising raw material prices and geopolitical challenges that affected logistic operations. On a half-year basis, profits fell by 59.8% to 26.09 million SAR, with revenues decreasing by 34.98%. The company continues to face accumulated losses, and earnings per share dropped to 3.91 SAR. Auditors issued a warning regarding the company's ability to continue as a going concern due to its difficult financial situation.
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