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19-01-14

Saudi Electricity's net loss reaches USD176 m in Q4

(MENAFN) Net loss of Saudi Electricity Co (SEC) has dropped by 39 percent in the fourth quarter of 2013 as it changed its plans of improving productivity, according to Arabian Business. The company's losses reached USD176 million during the quarter compared to USD293 million during the same quarter in 2012. The company's net loss was less than expected as KSB Capital Group expected USD298 million for the quarter, while NCB Capital expected USD170 million net loss.