United Electronics Company (eXtra) reported a net profit after Zakat and tax of SAR 205.6 million for fiscal year 2019, up by 27.55% year-on-year (YoY) due to higher revenue, and a 15.6% increase in gross profit.
The company also cited a growth in e-commerce sales, increase in revenues from consumer finance services, in addition to new stores opening in 2019.
| Item | 2018 | 2019 | Change |
|---|---|---|---|
| Revenues | 4,394.08 | 5,134.60 | 16.9 % |
| Gross Income | 779.61 | 901.18 | 15.6 % |
| Operating Income | 180.00 | 248.77 | 38.2 % |
| Net Income | 161.19 | 205.61 | 27.6 % |
| Average Shares | 80.00 | 80.00 | - |
| EPS (Riyals) | 2.01 | 2.57 | 27.6 % |
The Q4 2019 net profit increased by 14.6% YoY to SAR 72.3 million on higher sales and increased gross margins, the company said in a bourse statement on Sunday.
Compared to the previous quarter, Q4 2019 net profit more than doubled.
| Item | Q4 2018 | Q4 2019 | Change |
|---|---|---|---|
| Revenues | 1,619.28 | 1,881.04 | 16.2 % |
| Gross Income | 269.38 | 300.93 | 11.7 % |
| Operating Income | 69.27 | 89.88 | 29.8 % |
| Net Income | 63.08 | 72.09 | 14.3 % |
| Average Shares | 80.00 | 80.00 | - |
| EPS (Riyals) | 0.79 | 0.90 | 14.3 % |
| Item | Q3 2019 | Q4 2019 | Change |
|---|---|---|---|
| Revenues | 1,034.56 | 1,881.04 | 81.8 % |
| Gross Income | 185.82 | 300.93 | 61.9 % |
| Operating Income | 38.40 | 89.88 | 134.1 % |
| Net Income | 27.23 | 72.09 | 164.7 % |
| Average Shares | 80.00 | 80.00 | - |
| EPS (Riyals) | 0.34 | 0.90 | 164.7 % |
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