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united wire factories co. announces the interim financial results for the period ending on 31-03-2018 (threemonths)

01/05/2018
13:40:31


ELEMENT CURRENT QUARTER SIMILAR QUARTER FOR PREVIOUS YEAR % CHANGE CURRENT PREVIOUS QUARTER % CHANGE PREVIOUS
Net profit (loss) 7.73 7.71 0.26 10.14 -23.77
Gross profit (loss) 19.29 18.76 2.83 18.76 2.83
Operational profit (loss) 11.11 10.18 9.14 11.79 -5.77
Earning or loss per share, Riyals 0.18 0.18 - - -
All figures are in (Millions) Saudi Arabia, Riyals
ELEMENT EXPLAINATION
Reasons of increase (decrease) for quarter compared with same quarter last year Net income for the current quarter increased compared to net income for the same quarter of the last year due to the increase in sales , decrease in cost of goods sold , decraese in general and selling expenses
Reasons of increase (decrease) for quarter compared with previous quarter Net income for the current quarter decreased compared to the last quarter due to the decrease in sales as there was a decrease in demand , increase in competition , decrease in prices and because of the increase in general , selling and zakat expenses
Reclassifications in quarterly financial results Some of the last period comparative figures were reclassified to comply with the current period comparative figures
Other notes Net sales for the current quarter amounted to SR 145.02 Million compared to SR 144.64 Million for the same quarter of the last year which represents an increase of 0.26% as there was no change in demand on building materials between the two qaurters. Comperhensive income for the current quarter amounted to 7.73 Million compred to SR 7.71 million for the same quarter of the last year which represents an increase of 0.33% and compared to 10.14 million for the last quarter which represents a decrease of 24%. Owners'equity amounted to SR 531 Million compared to SR 504 Million which represents an increase of 5%(There are no minority interests). Company imlemented International Financial Reporting Standards starting 01-01-2017

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