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FINANCIAL NEWS
Sales of Saudi listed energy, utility firms grow by 10.7pct
19 Sep 2016
(MENAFN) Sales of the Saudi listed energy and utility companies increased by 10.7 percent to SR13.7bn in Q2 this year, compared with SR12.4bn in the same period of 2015.
Meanwhile, the quarterly sales increased by 46 percent compared to sales of Q1, 2016, which reached SR9.4bn.
However, revenues of the listed energy and utility firms dropped by 27.5 percent to SR1.45bn in the cited quarter compared to SR1.99bn in the same period of 2015.
The energy and utility sector is composed of two firms; Saudi Elect Co. (SEC) and National Gas and Industrialization Co. (GASCO).
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