Middle East Specialized Cables Company announced that it booked a net loss of SAR 23.2 million (USD 6.2 million/EUR 5.5 million) for 2014, against a net profit of SAR 30.4 million in 2013. MESC's gross profit declined by 27% on the year, to SAR 106.4 million in 2014.

For the fourth quarter of 2014, the company registered a net loss of SAR 5.7 million, compared with a net profit of SAR 1.9 million in the corresponding period a year ago.