United Wire Factories Co. announces its Annual Estimated Financial Results for the Period Ending on 2020-12-31

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  • United Wire Factories Co. announces its Annual Estimated Financial Results for the Period Ending on 2020-12-31
Element List Current Year Previous Year %Change
Sales/Revenue 777.3 724.4 7.302
Gross Profit (Loss) 113.5 61.6 84.253
Operational Profit (Loss) 72.3 32.9 119.756
Net Profit (Loss) after Zakat and Tax 62.1 22.1 180.995
Total Comprehensive Income 61.7 23.2 165.948
Total Share Holders Equity (after Deducting Minority Equity) 457.6 518.8 -11.796
Profit (Loss) per Share 1.51 0.5
All figures are in (Millions) Saudi Arabia, Riyals

 

Element List Explanation
The reason of the increase (decrease) in the net profit during the current year compared to the last year is 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 and higher profit margins, in addition to the increase in selling and distribution expenses as a percentage of sales, also a increase in general and administrative expenses.and an increase in the expense incurred during the period versus a decrease in commercial debtors and inventory (Corona-Covid-19) and the decrease in Zakat Expense.
Statement of the type of external auditor’s report Unmodified opinion
Modification, Qualification or Emphasis of a Matter as Stated within the External Auditor Opinion No Remarks
Reclassification of Comparison Items Some of the same last year period comparative figures were reclassified to comply with the current period comparative figures
Additional Information Initial management estimates of the impact of precautionary measures for the Corona pandemic (Covid 19) have been taken into account when estimating the decline in the value of trade receivables and inventory to date, The earnings per share was calculated according to the weighted number of shares taking in concedration the capital recudtion transaction completed during 2020.

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