United Electronics Company (Extra) announces the Interim financial results for the period ending on 31-03-2017 (Three Months)
| Element | Current quarter | Similar quarter for previous year | % Change current | Previous quarter | % Change previous |
|---|---|---|---|---|---|
| Net profit (loss) | 13 | -45.9 | - | 26.2 | -50.38 |
| Gross profit (loss) | 134.4 | 97.5 | 37.85 | 213.4 | -37.02 |
| Operational profit (loss) | 14 | -44.7 | - | 43.9 | -68.11 |
| Earning or loss per share, Riyals | 0.36 | -1.28 | - | - | - |
| All figures are in (Millions) Saudi Arabia, Riyals | |||||
| Element | EXPLAINATION |
|---|---|
| Reasons of increase (decrease) for quarter compared with same quarter last year | The achivement of net profit due to increase in sales compared to the same quarter last year, which led to higher gross profit in addition to increasing the margin on some products and services and decrease in selling, general and administrative expenses. |
| Reasons of increase (decrease) for quarter compared with previous quarter | 'The decrease in net profit due to decrease of sales in current quarter compared to mega sale's volume in the previous quarter which led to increase in gross and operating profit compared to current quarter. |
| Reclassifications in quarterly financial results | Some figures for last year have been reclassified to be consistent IFRS. |
| Other notes | The total sales for the first quarter is SR 805m, increased with 8.3% compared to the same period last year (SR 743m). The Total comprehensive income for the quarter amounted to 13M compared to the same quarter last year (45.9) M an increase of 128.4% and 26.2M in previous quarter with decrease 50.4%. As of March 31, 2017 Shareholder's equity (no minority interest) reached SAR 469.6m vs. SAR 484.4m (no minority interest) as of March 31, 2016 showing a decrease of 3.1% due to effect of applying IFRS. |
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