20/01/2015
Decline in earnings for SCECO
Decline inSaudi Electricity Companyprofitsduring the current quarterby172.62percent,whereprofitsamounted to1,802million riyals,comparedto the same quarterof the previous year, downfrom the previous quarter.
The company explained,it has achieved atotalnet profitin2014amounted to3,611million riyals,a rise of18.94percent,compared to the correspondingperiod last year,toinform theearnings per shareof 0.87riyals compared to0.37riyals, the companyattributed thedecline in netprofitduring the current quarter,compared to thequartersimilartothe previous yeartoimplement the Convention onthe use ofthe transportsystem,andhigh consumption.
