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 its Interim Financial Results for the Period Ending on 2021-03-31 ( Three Months )

Element List Current Quarter Similar quarter for previous year %Change Previous Quarter % Change Sales/Revenue 226.6 220.4 2.813 202.8 11.735 Gross Profit (Loss) 28.1 33.5 -16.119 29.8 -5.704 Operational Profit (Loss) 18.6 17.3 7.514 19.2 -3.124 Net Profit... read more

United Wire Factories Co. announces the CMA’s approval on the Capital Reduction request of the Company

Element ListExplanation ... read more

United Wire Factories Co. Announces an update on United Wire Factories Co. announces signing a Memorandum of Understanding with Themar for Food and Catering Company

Element ListExplanation Introduction In reference to the announcement by United Wire Factories Company on October 24,... read more

United Wire Factories Co. announces the distribution of cash dividend for the second half of the year 2020 AD

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

Addendum Announcement from United Wire Factories Co. in regards to the year 2025 financial Results

Element List Explanation Introduction With reference to the company's announcement of its annual financial results for 2025, we would like 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

United Wire Factories Co. announces its Estimated Interim Financial Results for the Period Ending on 2022/03/31 ( Three Months )

Element ListCurrent QuarterSimilar quarter for previous year% ChangePrevious Quarter% ChangeSales/Revenue 298.8226.631.862291.32.574 Gross Profit (Loss) 3828.135.23119.594.871 Operational Profit... read more

United Wire Factories Co. Announces an update on its previous announces for signing a Memorandum of Understanding with Themar for Food and Catering Company (Limited Liability Company) for the possible acquisition of a share in the ownership of Themar Food and Catering Company.

Element ListExplanation Introduction Further to the announcement by United Wire Factories Co. of signing a (non-binding)... read more

Aslak’s profit margins boosted by efficient raw materials procurement: CEO

United Wire Factories Co. (Aslak) was highly-selective in managing the process of raw materials procurement to seize good opportunities, which... read more