United Wire Factories Co. (Aslak) reported a net profit after Zakat and tax of SAR 27 million for the first half of 2020, a 70% year-on-year (YoY) rise, driven by higher sales volumes, and gross profit.
| Item | 6m 2019 | 6m 2020 | Change |
|---|---|---|---|
| Revenues | 336.89 | 414.72 | 23.1 % |
| Gross Income | 34.30 | 55.67 | 62.3 % |
| Operating Income | 18.68 | 37.94 | 103.1 % |
| Net Income | 16.13 | 27.30 | 69.3 % |
| Average Shares | 28.08 | 28.08 | - |
| EPS (Riyals) | 0.57 | 0.97 | 69.3 % |
The company’s net profit after Zakat and tax for the second quarter more than doubled YoY to SAR 12 million, backed by higher sales volumes despite an increase in selling, general and distribution expenses, as well as Zakat charges.
On a quarter-on-quarter basis, net profit dropped 19.2% on a decline in sales despite lower selling, general, administrative and distribution expenses.
| Item | Q2 2019 | Q2 2020 | Change |
|---|---|---|---|
| Revenues | 144.10 | 194.33 | 34.9 % |
| Gross Income | 13.17 | 22.13 | 68.0 % |
| Operating Income | 5.40 | 14.65 | 171.2 % |
| Net Income | 6.01 | 12.25 | 103.9 % |
| Average Shares | 28.08 | 28.08 | - |
| EPS (Riyals) | 0.21 | 0.44 | 103.9 % |
| Item | Q1 2020 | Q2 2020 | Change |
|---|---|---|---|
| Revenues | 220.39 | 194.33 | (11.8 %) |
| Gross Income | 33.54 | 22.13 | (34.0 %) |
| Operating Income | 23.29 | 14.65 | (37.1 %) |
| Net Income | 15.05 | 12.25 | (18.7 %) |
| Average Shares | 28.08 | 28.08 | - |
| EPS (Riyals) | 0.54 | 0.44 | (18.7 %) |
Argaam Investment Company has updated the Privacy Policy of its services and digital platforms. Know more about our Privacy Policy here.
Argaam uses cookies to personalize content, to provide social media features and analyze traffic, that we might also share with third parties. You consent to our cookies if you use this website
Comments {{getCommentCount()}}
Be the first to comment
رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}
{{comment.DisplayName}}
{{comment.ElapsedTime}}