Aslak net profit rises 11% in 9M

17/10/2019 Argaam Exclusive

United Wire Factories Co. (Aslak) reported a net profit after zakat and tax of SAR 17.2 million for the first nine months of 2019 as compared to a net profit of SAR 15.5 million in the same period in 2018, an increase of 10.9 percent, it said in a bourse statement.

 

The figures can be attributed to an increase in sales maintaining the amount of gross profit in spite of the decline in margins, along with an improvement in selling and distribution expenses.



Financials (M)

Item 9m 2018 9m 2019 Change‬
Revenues 397.24 505.18 27.2 %
Gross Income 43.75 42.71 (2.4 %)
Operating Income 21.83 20.07 (8.0 %)
Net Income 15.54 17.23 10.9 %
Average Shares 28.08 28.08 -
EPS (Riyals) 0.55 0.61 10.9 %

In Q3 2019, the company reported a net profit after zakat and tax of SAR 1.1 million as against a net profit of SAR 0.5 million in the same period previous year on increase in sales.

 

On a sequential basis, Q3 2019 net profit slid by 81.66 percent compared to the previous quarter.



Current Quarter Comparison (M)

Compared With The
Item Q3 2018 Q3 2019 Change‬
Revenues 106.65 168.29 57.8 %
Gross Income 8.67 8.42 (3.0 %)
Operating Income 1.73 1.39 (19.3 %)
Net Income 0.49 1.10 126.1 %
Average Shares 28.08 28.08 -
EPS (Riyals) 0.02 0.04 126.1 %

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