SEC 4Q2015 losses shrink c20% Y-o-Y on non-recurring items
Saudi Electricity Company (SEC) [5110.SE] posted KPIs for 4Q2015, with a net loss of SAR1,445 million shrinking 20% Y-o-Y from a net loss of SAR1,802 million (+149% sequentially on seasonality) due to non-recurring items that the company is yet to disclose. Gross losses for the quarter came in at SAR1,344 million versus SAR1,255 million in 4Q2014, and net operating loss reached SAR1,781 million, also worsening from to SAR1,609 million. (Tadawul)
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