Financial Results : Aslak’s profit up 18% to SAR 14.3M in 9M 2024; Q3 at SAR 4M

Aslak’s profit up 18% to SAR 14.3M in 9M 2024; Q3 at SAR 4M

31/10/2024 Argaam Exclusive

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United Wire Factories Co. (Aslak) reported a net profit rise of 18% to SAR 14.3 million in the first nine months of 2024, compared to SAR 12.1 million in the corresponding period last year.



Financials (M)

Item 9m 2023 9m 2024 Change‬
Revenues 610.23 527.39 (13.6 %)
Gross Income 48.34 44.08 (8.8 %)
Operating Income 17.70 16.10 (9.0 %)
Net Income 12.13 14.26 17.6 %
Average Shares 28.08 28.08 -
EPS (Riyals) 0.43 0.51 17.6 %

The company attributed the profit rise to higher investment earnings despite lower sales volumes.



Current Quarter Comparison (M)

Compared With The
Item Q3 2023 Q3 2024 Change‬
Revenues 182.89 166.04 (9.2 %)
Gross Income 14.58 13.52 (7.3 %)
Operating Income 4.12 4.01 (2.6 %)
Net Income 2.15 4.01 86.7 %
Average Shares 28.08 28.08 -
EPS (Riyals) 0.08 0.14 86.7 %

In Q3 2024, Aslak’s net profit surged 82% to SAR 4 million, from SAR 2.2 million in the prior-year period.

 

Net earnings declined by 4.8% from SAR 4.2 million in Q2 2024.

 

Total shareholders’ equity, no minority interest, increased to SAR 386.2 million as of Sept. 30, 2024, from SAR 391.5 million a year earlier.

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