United Wire Factories Co. announces its Annual 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	The management’s estimates of the impact of precautionary measures for the Coronavirus (Covid 19) were taken into consideration when assessing the decrease in the value of trade receivables and inventory, and the management decided to maintain the provision and its adequacy to date, and the earnings per share was calculated on the basis of the weighted number of shares. 2020.

Related Posts

United Wire Factories Co. Announces Appointment of a Financial Advisor for Capital Decrease

ELEMENT LIST EXPLANATION Introduction No English translation, kindly refer to the Arabic version Name of Financial Advisor No English translation, kindly refer to the Arabic... read more

United Wire Factories Co. announces its board of directors’ decision to appoint the board’s chairman and vice-chairman and to form committees

Element ListExplanationAnnouncement Detail Reference to the meeting of the Fourteenth Ordinary General Assembly held on Tuesday 28/07/1443 AH... read more

The CEO of the Saudi Wire Union, Nabil Al-Amir, told CNBC Arabia: The increase in profits for the first half of 2022 is due to the growth in sales volumes and high profit margins

https://www.cnbcarabia.com/videos_pickup/aslak_video.mp4 In an interview with CNBC Arabia, CEO of the Saudi Wire Union, Nabil Al-Amir, indicated that the reasons behind the... read more

United Wire Factories Co. announces to Invites its Shareholders to Attend the ( First Meeting ) Ordinary General Assembly Meeting – Reminder Announcement

Element ListExplanation Introduction The Board of Directors of the United Wire Factories Company is pleased to... read more

United Wire Factories Co. Announces the Results of the Extraordinary General Assembly Meeting (First Meeting)

Element ListExplanation Introduction United Wire Factories company Board of Directors is pleased to announce the results... read more

United Wire Factories Co. announces its Annual Financial Results for the Period Ending on 2022-12-31

Element ListCurrent YearPrevious Year%ChangeSales/Revenue 1,026.4921.311.41 Gross Profit (Loss) 107.385.625.35 Operational Profit (Loss) 67.256.419.15 Net Profit (Loss)... read more

United Wire Factories Co. announces the distribution of cash dividend for For the 1st half of the year 2022 AD

Element ListExplanation Introduction United Wire Factories Company (Aslak) announces the decision of the Board of Directors... read more

United Wire Factories Company announces the distribution of cash dividends to shareholders for the second half of the year 2022 AD and for the period until the end of the third quarter 2023 AD

Element ListExplanation Introduction United Wire Factories Company (Aslak) announces the decision of the Board of Directors... read more

ASLAK’s CEO Interview with CNBC Arabia regrading the process of reducing the company’s capital

https://unitedwires.com.sa/wp-content/uploads/2023/08/CNBC03082023.mp4 read more

The Capital Market Authority Approves United Wire Factories Company’s Request to Reduce its Capital

The CMA has issued its resolution approving United Wire Factories Company's request to reduce its capital from SAR (438,750,000) to... read more