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21/04/2014 07:31 AST
Saudi Electricity Co (SEC) reported a significant widening of its net loss for the first quarter on Sunday, as the utility saw costs increase and the value of some of its fixed assets decline.
It lost 913 million riyals ($243.4 million) during the three months to March 31, compared to 657 million riyals during the same period of the previous year, it said in a bourse statement.
NCB Capital had forecast that SEC would have a quarterly net loss of 754 million riyals.
SEC's results are highly seasonal due to the big swing between power demand in winter and in summer when high temperatures lead most homes and businesses to rely on extensive air conditioning.
Reuters
02/03/2018
The Saudi Electricity Company (SEC) said that 68 per cent of its purchases, during the past four years, came from 52 local factories, with a growth rate of 720 per cent compared to 2001.
S
Trade Arabia
02/02/2018
The Saudi Electricity Company (SEC) said it has already suspended the distribution of the paper bills to the subscribers' homes.
Any subscriber can know the value and details of the electr
Trade Arabia
21/01/2018
Saudi Electricity Company (SEC) said it has signed a SR9.75 billion ($2.6 billion) international syndicated bridge facility with eight major global banks to fund its future plans including that of a
Trade Arabia
Ticker | Price | Volume |
---|---|---|
SABIC | 114.77 | 5,915,941 |
SAMBA | 26.98 | 1,138,683 |
DARALARKAN | 13.47 | 74,648,349 |
Ticker | Price | Change |
---|---|---|
NGIC | 30.16 | 0.06 (0.19 |
05/04/2018
SABIC announced the successful completion of the pilot operation of the Methyl Methacrylate Monomer (MMA) and Poly Methyl Methacrylate (PMMA) plants and the commencement of commercial operations.
Saudi Gazette
05/04/2018
Standard & Poor’s (S&P) has affirmed QIB’s Issuer Credit Rating at A-, Qatar’s leading Islamic bank has said in a release. According to S&P, the major contributing factors strengthening QIB’s rating
Gulf Times
05/04/2018
Qatar National Bank (QNB) aims to increase its profit by 5-8 percent this year and loans and investments by 10-12 percent, helped by expansion into faster-growing Southeast Asia markets, its CEO told
The Peninsula
04/04/2018
Doha Bank has announced the official inauguration of its Chennai Branch, in the southern Indian state, will be held today. This is Doha Bank’s third city in India after its successful establishment o
The Peninsula
04/04/2018
Bank of Sharjah said it has engaged SHUAA Capital International as liquidity providers for its shares and will commence the activity from April 4. SHUAA Capital International shall not hold more than
Gulf News