United Wire Factories Co. (Aslak) reported a net profit of SAR 10 million in H1 2023, a decline of 76% from SAR 42.2 million in the year-earlier period on lower sales volume and profit margins.
Item | 6m 2022 | 6m 2023 | Change |
---|---|---|---|
Revenues | 507.05 | 427.35 | (15.7 %) |
Gross Income | 67.10 | 33.76 | (49.7 %) |
Operating Income | 47.46 | 13.58 | (71.4 %) |
Net Income | 42.21 | 9.98 | (76.4 %) |
Average Shares | 28.08 | 28.08 | - |
EPS (Riyals) | 1.50 | 0.36 | (76.4 %) |
The company reported a net profit of SAR 5.50 million in Q2 2023, down 66% from SAR 16.19 million a year earlier.
On a quarterly basis, Q2 net earnings grew from SAR 4.52 million, on higher profit margins.
Item | Q2 2022 | Q2 2023 | Change |
---|---|---|---|
Revenues | 208.26 | 200.19 | (3.9 %) |
Gross Income | 29.07 | 17.28 | (40.6 %) |
Operating Income | 18.89 | 7.56 | (60.0 %) |
Net Income | 16.19 | 5.46 | (66.3 %) |
Average Shares | 28.08 | 28.08 | - |
EPS (Riyals) | 0.58 | 0.19 | (66.3 %) |
Item | Q1 2023 | Q2 2023 | Change |
---|---|---|---|
Revenues | 227.16 | 200.19 | (11.9 %) |
Gross Income | 16.48 | 17.28 | 4.9 % |
Operating Income | 6.02 | 7.56 | 25.7 % |
Net Income | 4.51 | 5.46 | 21.0 % |
Average Shares | 28.08 | 28.08 | - |
EPS (Riyals) | 0.16 | 0.19 | 21.0 % |
Total shareholders’ equity, excluding minority interest, stood at SAR 459.5 million as of June 30, 2023, compared to SAR 469.1 million in the prior-year period.
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