SEC trims Q4 loss

RIYADH: State-controlled Saudi Electricity Co.
(SEC) said on Monday it trimmed its fourth-quarter loss to SR295 million ($78.7 million), helped by higher power tariffs.

Updated 18 January 2011 02:52

REUTERS

January 18, 2011 02:52

SEC posted a net loss of SR532 million in the year-earlier period, but reported a record net profit of SR2.31 billion in the third quarter. SEC made SR1.14 billion in net profit in 2009, it said in the statement.