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

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.

Related Posts

Aslak aligns factory operations with demand: CEO

United Wire Factories Co. (Aslak) is operating factories at high rates to balance low demand and maintain economic efficiency to... read more

United Wire Factories Co. announces signing a Memorandum of Understanding with Themar for Food and Catering Company (Limited Liability Company)

Element ListExplanation Introduction United Wire Factories Company announces the signing of a (non-binding) Memorandum of Understanding with Themar... read more

CEO of Saudi Wire Union Company to CNBC Arabia: The impact of high raw material costs due to the war is limited on the company

https://www.cnbcarabia.com/videos_pickup/_____________________[63].mp4 Nabil Al-Amir, CEO of the Saudi Wire Factories company, said in a meeting with CNBC Arabian, that the Russian-Ukrainian war... read more

CEO of the Saudi Wire Union Company to CNBC Arabia: The company’s available infrastructure allows an increase in production capacity 30%

The CEO of the Saudi Wire Union, Nabil Al-Amir, said in an interview with CNBC Arabia that the results of... read more

United Wire Factories Company announces the starting date of electronic voting on the 17th Extraordinary General Assembly meeting agenda (First Meeting) through means of modern technology

Element ListExplanationAnnouncement Detail United Wire Factories Company is pleased to announce to its esteemed shareholders the date of... read more

United Wire Factories Co. Announces to its Shareholders the Starting Date of the Electronic Voting on the Agenda of the Ordinary General Assembly Meeting (First Meeting)

Element ListExplanationAnnouncement Detail Reference to the announcement of United Wire Factories Co. (Aslak) on the Saudi Exchange (Tadawul)... read more

United Wire Factories Co. Announces an update on United Wire Factories Co. announces signing a Memorandum of Understanding with ALRAEDA INDUSTRIAL INVESTMENT Co.

Element ListExplanation Introduction In addition to the announcement by the United Wire Factories Company of signing... read more

An addendum announcement from the United Wire Factories Company regarding its previous announcement inviting its shareholders to attend the 16th Extraordinary General Assembly Meeting (the first meeting)

Element ListExplanation Introduction A reference to the company's announcement containing the invitation to attend the sixteenth... read more

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... read more

United Wire Factories Co. announces its Interim Financial Results for the Period Ending on 30-09-2023 ( Nine Months )

Element ListCurrent QuarterSimilar quarter for previous year%ChangePrevious Quarter% ChangeSales/Revenue 182.9264.1-30.75200.2-8.64 Gross Profit (Loss) 14.515.6-7.0517.2-15.7 Operational Profit (Loss)... read more