Aslak’s 9M 2020 net profit rises to SAR 45.1 mln

13/10/2020 Argaam Exclusive

View other reports

United Wire Factories Co. (Aslak) reported a net profit after Zakat and tax of SAR 45.1 million for the first nine months of 2020, a more than twofold increase year-on-year (YoY), driven by strong sales volumes, higher profit margins, and increased gross profit.

Financials (M)

Item	9m 2019	9m 2020	Change‬
Revenues	505.18	574.90	13.8 %
Gross Income	42.71	84.00	96.7 %
Operating Income	20.07	58.95	193.7 %
Net Income	17.23	45.11	161.8 %
Average Shares	28.08	28.08	-
EPS (Riyals)	0.61	1.61	161.8 %

Current Quarter Comparison (M)

Compared With The

Item	Q3 2019	Q3 2020	Change‬
Revenues	168.29	160.18	(4.8 %)
Gross Income	8.42	28.33	236.6 %
Operating Income	1.39	21.01	1408.5 %
Net Income	1.10	17.81	1517.7 %
Average Shares	28.08	28.08	-
EPS (Riyals)	0.04	0.63	1517.7 %

Item	Q2 2020	Q3 2020	Change‬
Revenues	194.33	160.18	(17.6 %)
Gross Income	22.13	28.33	28.0 %
Operating Income	14.65	21.01	43.4 %
Net Income	12.25	17.81	45.4 %
Average Shares	28.08	28.08	-
EPS (Riyals)	0.44	0.63	45.4 %

Q3 2020 net profit after Zakat and tax stood at 17.8 million, compared to SAR 1.1 million in a year-earlier period, backed by higher profit margins and increased gross profit, despite lower sales and higher Zakat expenses.

On a sequential basis, the third quarter’s net profit jumped by 45.9%.

Kindly, you can view the full report by subscribing to the

The report contains the details of the financial statements, The most important financial indicators, Historical information, Charts, and Forecasts of experts.

Twitter

Facebook

Linked in

Comments {{getCommentCount()}}

Be the first to comment

رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}

Sorry: the validity period has ended to comment on this news

Opinions expressed in the comments section do not reflect the views of Argaam. Abusive comments of any kind will be removed. Political or religious commentary will not be tolerated.

×