The results that the entire team at Saudi Cable Company was able to achieve were nothing short of remarkable. There is a distinct feeling of resurgence among our employees, customer, suppliers, and partners that Saudi Cable Company is once again a force in the cable industry across the region. A few highlights of our achievement during 2015 are:
– Net profit of SR 1.7 million after three consecutive years of losses
– Reduction in Cash Cycle through managing receivables, reducing inventories, and negotiating extended terms with suppliers. This enables us to grow our volume without any additional external financing
– Increase in shipment volume by 40% and order intake volume by 55% compared to 2014 levels. This has provided strong momentum to the company as we start 2016
We have a strong belief that the actions undertaken over the past 24 months on our Journey to Excellence will deliver a complete and sustainable turnaround of the company.
The company has identified a series of new imperatives that it will undertake in 2016, which include re-entry in to new markets, introduction of new products through internal Research and Development activities, and further strengthening of core business practices. All these actions combined will put the company on a path to restore itself to its rightful position among the cable industry – a position of undisputed leadership and strength. We welcome you to join us on this Journey to Excellence!
Congratulations and we look forward to the next chapter in the evolution of our great company.