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

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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