eXtra’s net profit up 27.5% in FY2019

19/01/2020 Argaam Exclusive

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United Electronics Company (eXtra) reported a net profit after Zakat and tax of SAR 205.6 million for fiscal year 2019, up by 27.55% year-on-year (YoY) due to higher revenue, and a 15.6% increase in gross profit.

The company also cited a growth in e-commerce sales, increase in revenues from consumer finance services, in addition to new stores opening in 2019.

Financials (M)

Item	2018	2019	Change‬
Revenues	4,394.08	5,134.60	16.9 %
Gross Income	779.61	901.18	15.6 %
Operating Income	180.00	248.77	38.2 %
Net Income	161.19	205.61	27.6 %
Average Shares	80.00	80.00	-
EPS (Riyals)	2.01	2.57	27.6 %

The Q4 2019 net profit increased by 14.6% YoY to SAR 72.3 million on higher sales and increased gross margins, the company said in a bourse statement on Sunday.

Compared to the previous quarter, Q4 2019 net profit more than doubled.

Current Quarter Comparison (M)

Compared With The

Item	Q4 2018	Q4 2019	Change‬
Revenues	1,619.28	1,881.04	16.2 %
Gross Income	269.38	300.93	11.7 %
Operating Income	69.27	89.88	29.8 %
Net Income	63.08	72.09	14.3 %
Average Shares	80.00	80.00	-
EPS (Riyals)	0.79	0.90	14.3 %

Item	Q3 2019	Q4 2019	Change‬
Revenues	1,034.56	1,881.04	81.8 %
Gross Income	185.82	300.93	61.9 %
Operating Income	38.40	89.88	134.1 %
Net Income	27.23	72.09	164.7 %
Average Shares	80.00	80.00	-
EPS (Riyals)	0.34	0.90	164.7 %

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