Financial Results : Aslak net profit rises 50% to SAR 15.1 mln in Q1 2020

Aslak net profit rises 50% to SAR 15.1 mln in Q1 2020

13/05/2020 Argaam Exclusive

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United Wire Factories Co. (Aslak) reported a net profit after Zakat and tax of SAR 15.1 million for Q1 2020, an increase of 50% year-on-year (YoY), driven by higher sales volumes and profit margins.



Current Quarter Comparison (M)

Compared With The
Item Q1 2019 Q1 2020 Change‬
Revenues 192.79 220.39 14.3 %
Gross Income 21.13 33.54 58.7 %
Operating Income 13.28 23.29 75.4 %
Net Income 10.12 15.05 48.7 %
Average Shares 28.08 28.08 -
Earnings Per Share before unusual items (Riyal) 0.36 0.75 108.8 %
EPS (Riyal) 0.36 0.54 48.7 %

When compared to Q4 2019, net profit after Zakat and tax surged 208% from SAR 4.9 million, thanks to higher profit margins.

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