United Wire Factories Co. announces its Annual Financial Results for the Period Ending on 2019-12-31

United Wire Factories Co. announces its Annual Financial Results for the Period Ending on 2019-12-31

 

ELEMENT LIST CURRENT YEAR PREVIOUS YEAR %CHANGE
Sales/Revenue 724.4 535 35.401
Gross Profit (Loss) 61.6 46.1 33.622
Operational Profit (Loss) 32.9 17 93.529
Net Profit (Loss) after Zakat and Tax 22.1 7.1 211.267
Total Comprehensive Income 23.2 7.6 205.263
Total Share Holders Equity (after Deducting Minority Equity) 518.8 506.5 2.428
Profit (Loss) per Share 0.5 0.16  
All figures are in (Millions) Saudi Arabia, Riyals

 

ELEMENT LIST EXPLANATION
Increase (Decrease) in Net Profit for Current Year Compared to Last Year is Attributed to The reason for the increase in net profit for the current year compared to the previous year is mainly due to growth in sales volumes, in addition to the decrease in selling and distribution expenses as a percentage of sales, also a decrease in general and administrative expenses.
Basis of the External Auditor’s Opinion Unmodified opinion
Reclassification of Comparison Items Some of the last period comparative figures were reclassified to comply with the current period ones
Additional Information The company has implemented the international standards as of 1/1/2017 and has also implemented the international standard No. 16 for financing lease contracts as of 1/1/2019

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