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united wire factories co. announces the interim financial results for the period ending on 30-06-2018 (six months)

19/07/2018
09:25:40


ELEMENT CURRENT QUARTER SIMILAR QUARTER FOR PREVIOUS YEAR % CHANGE CURRENT PREVIOUS QUARTER % CHANGE PREVIOUS
Net profit (loss) 7.3 0.49 1,389.8 7.7 -5.19
Gross profit (loss) 15.8 12.2 29.51 19.3 -18.13
Operational profit (loss) 9.8 2.8 250 11.1 -11.71
All figures are in (Millions) Saudi Arabia, Riyals
ELEMENT CURRENT PERIOD SIMILAR PERIOD FOR PREVIOUS YEAR % CHANGE
Net profit (loss) 15 8.2 82.93
Gross profit (loss) 35 31 12.9
Operational profit (loss) 20.9 13 60.77
Earning or loss per share, Riyals 0.34 0.19 -
All figures are in (Millions) Saudi Arabia, Riyals
ELEMENT EXPLAINATION
Reasons of increase (decrease) for quarter compared with same quarter last year Net income ; comperhansive income ; gross income and operating income increased during the second quarter 2018 compared to the same quarter of the last year due to decrease in genral,selling. Expenses , and increased in Net Sales
Reasons of increase (decrease) for period compared with same period last year Net income ; comperhansive income ; gross income and operating income inecreased during the current period of 2018 compared to the same period of the last year due to increae in Net Sales and decrease in genral,selling. Expenses, ,
Reasons of increase (decrease) for quarter compared with previous quarter Net income ; comperhansive income ; gross income and operating income decreased during the second quarter 2018 compared to the previous quarter due to inecreased in cost of good sold and decreased in profit margin
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 SR146 Million compared to SR 135 Million for the same quarter of the last year which represents a increase of8%
Net sales for the current period amounted to SR 291 Million compared to SR 280 Million for the same period of the last year which represents increase of 4% 
Comperhensive income amounted to SR 7.3 compared to SR .5 Million for the same quarter of the last year which represents a increase of 1390% and compared to an amount of about SR7.7 Million for the pevious quarter which represents decreased of 5 %. 
comperhensive income for the current period amounted to SR15 Million compared to SR8.2 Million for the same period of the last year which represents an increase of 84%
Owners' Equity amounted to SR 517 Million compared to SR 504 Million for the same period of the last year which represents an incraese of3% ( There are no minority interests)
Company implemented IFRS starting 1st of January 2017
The External Auditor reviewed the financial statements and issued a conclusion examination report (unmodified).

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