RIYADH, 21 July 2004 — Saudi Electricity Co. (SEC) announced on Monday it made a net profit in the first half of the year of SR56.7 million ($15 million), after losses of SR334.9 million in the same period last year. SEC, Saudi Arabia’s third largest listed firm, made the announcement in a brief statement on the Website of the Saudi bourse. It gave no further details. The company had reported first-quarter losses of SR321 after full-year profits in 2003 of SR1.487 billion. SEC’s shares were trading at SR134.75 after the announcement on Monday, down 0.19 percent on the day. The shares have ranged between SR92.5 and SR196 in the last 12 months.