Saudi Electricity Q2 net profit up 25 pct

Saudi Electricity Co (SEC) reported a 25 per cent rise in its second-quarter net profit, according to a statement issued on Saturday.

SEC made a net profit of 1.335 billion riyals ($356 million) in the three months to end-June, compared to 1.068 billion riyals in the same period last year, said the statement posted on the bourse website.

Analysts surveyed by Reuters expected on average the firm to post a net profit of 1.321 billion riyals for the quarter.