United Wire Factories Co. (Aslak) reported an estimated net profit after Zakat and Tax of SAR 62.1 million for 2020, an increase of 181%, from SAR 22.1 million in FY2019.
The increase in profit was attributed to growth in sales volumes and higher profit margins, despite the increase in selling and distribution expenses as well as higher general and administrative expenses.
| Item | 2019 | 2020 | Change |
|---|---|---|---|
| Revenues | 724.41 | 777.70 | 7.4 % |
| Gross Income | 61.65 | 113.89 | 84.7 % |
| Operating Income | 30.23 | 78.54 | 159.8 % |
| Net Income | 22.12 | 62.15 | 181.0 % |
| Average Shares | 28.08 | 28.08 | - |
| EPS (Riyals) | 0.79 | 2.21 | 181.0 % |
The company reported a net profit after Zakat and tax of SAR 16.99 million for the fourth quarter of 2020, a surge of 247%, from SAR 4.89 million in the year-earlier period.
| Item | Q4 2019 | Q4 2020 | Change |
|---|---|---|---|
| Revenues | 219.22 | 202.80 | (7.5 %) |
| Gross Income | 18.94 | 29.89 | 57.8 % |
| Operating Income | 10.16 | 19.59 | 92.7 % |
| Net Income | 4.89 | 17.04 | 248.4 % |
| Average Shares | 28.08 | 28.08 | - |
| EPS (Riyals) | 0.17 | 0.61 | 248.4 % |
| Item | Q3 2020 | Q4 2020 | Change |
|---|---|---|---|
| Revenues | 160.18 | 202.80 | 26.6 % |
| Gross Income | 28.33 | 29.89 | 5.5 % |
| Operating Income | 21.01 | 19.59 | (6.8 %) |
| Net Income | 17.81 | 17.04 | (4.4 %) |
| Average Shares | 28.08 | 28.08 | - |
| EPS (Riyals) | 0.63 | 0.61 | (4.4 %) |
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