Saudi Cable Profit Slumps 56% on Liquidity Crisis
Riyadh, Saudi Arabia — Saudi Cable Co. reported a net profit of 44.4 million SAR for the nine months ending September 30, 2026 — a 56% collapse from 101.7 million SAR in the same period last year. Revenue fell 40% year-on-year to 68.3 million SAR, driven by persistent liquidity constraints that crippled working capital and […] The post Saudi Cable Profit Slumps 56% on Liquidity Crisis appeared…
Riyadh, Saudi Arabia — Saudi Cable Co. reported a net profit that plummeted 56% year-over-year for the nine months ending September 30, 2026, falling to 44.4 million SAR from 101.7 million SAR in the same period last year. Revenue also dropped by 40% to 68.3 million SAR as liquidity constraints and reduced customer advance payments crippled working capital, eliminating customer payments in advance.
The results expose the company's structural struggles; accumulated losses now stand at 227 million SAR, representing 340% of share capital, and current liabilities exceed current assets by 671.4 million SAR. The auditor's warning of a going concern status underscores the company's precarious financial situation, hinting that survival may rely on events yet to materialize.
Written by urgent.news from The Saudi Standard's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
