Riyadh — Mubasher: Saudi Cable Company posted a net profit of SAR 44.35 million during the first nine months (9M) of 2026, according to a bourse filing.
The net income represented a plummet of 56.38% from the SAR 101.67 million recorded during the same period in 2025.
Revenue for the nine-month period fell by 39.72% to SAR 68.28 million from SAR 113.27 million in 9M-25.
The company attributed the performance decline to severe liquidity constraints and lower customer prepayments, which restricted working capital.
Profitability was further pressured by higher raw material prices and regional geopolitical conditions that increased logistics costs.
Operating losses for the nine-month period widened by 10.60% to SAR 84 million.
For the third quarter (Q3) of 2026, Saudi Cable said its net profit stood at SAR 18.27 million, a 50.34% decrease compared to the SAR 36.78 million posted in Q3-25. Quarterly revenue also dropped by 48.75% to SAR 19.97 million.
The independent auditor highlighted a material uncertainty regarding the group's ability to continue as a going concern.
Accumulated losses reached SAR 227.01 million as of 30 September 2026, which represented 340% of the capital.
Additionally, current liabilities exceeded current assets by SAR 671.40 million at the end of September 2026.
The company remains under financial reorganization proceedings following a Riyadh Court of Appeal ruling in August 2026.
