UPDATE 1-Saudi Electricity Q2 net up 25% on higher rates | Reuters

Saudi Electricity Co (SEC) reported a 25 percent rise in second-quarter net profit on higher tariffs and increased sales, slightly beating forecasts.

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

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

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