Further to the announcement of the Saudi Cable Company on 02-11-2021 regarding the company’s announcement of the interim financial results for the period ending on 30-09-2021 (nine months)
Date of Posting the Previous Announcement of Development on Tadawul’s Website
1- The main reasons that led to the attainment of losses:• Decreased sales volume during the current period.• Decrease in other revenues during the current period.2- Actions to be taken by the company regarding these losses:The company intends to take the following corrective steps:• Strict control of costs and work to reduce them to the minimum.• Re-evaluating the administrative structure and its reflection on human resources, working to achieve a more flexible hierarchy and achieving a reduction in expenses.• Searching for working capital financing options in the form of equity and seeking financial facilities to increase the outputs (goods and services) provided by the group.• Working to increase revenue by opening new sales channels and targeting new customers, which will help improve profit margins.
