Saudi Electricity posts 9.5 percent net profit rise in Q3

22 Oct 2015

(MENAFN) The Gulf’s largest utility firm Saudi Electricity Co. (SEC) reported a 9.5 percent surge in its third-quarter net profit, the company said in a posted statement.

The company made a profit of USD780 million in the three months to Sept. 30, up from USD711.64 million in the same period a year earlier, SEC said in a bourse statement.

NCB capital forecast Saudi Electricity would make a quarterly net profit of USD727.63 million. The company is looking for investment opportunities to offset financial pressures on its core electricity business.

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