United Electronics Company (Extra) announces the interim financial results for the period ending on 30-09-2017 (NINE Months)
| Element | Current quarter | Similar quarter for previous year | % Change current | Previous quarter | % Change previous |
|---|---|---|---|---|---|
| Net profit (loss) | 26.1 | 6.2 | 320.97 | 43.4 | -39.86 |
| Gross profit (loss) | 150.2 | 133.1 | 12.85 | 172.8 | -13.08 |
| Operational profit (loss) | 27.7 | 12 | 130.83 | 44.5 | -37.75 |
| All figures are in (Millions) Saudi Arabia, Riyals | |||||
| Element | Current period | Similar period for previous year | % Change |
|---|---|---|---|
| Net profit (loss) | 82.5 | -28.7 | - |
| Gross profit (loss) | 457.4 | 375.9 | 21.68 |
| Operational profit (loss) | 86.2 | -20.6 | - |
| Earning or loss per share, Riyals | 1.96 | -0.68 | - |
| All figures are in (Millions) Saudi Arabia, Riyals | |||
| Element | EXPLAINATION |
|---|---|
| Reasons of increase (decrease) for quarter compared with same quarter last year | The increase in 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 . |
| Reasons of increase (decrease) for period compared with same period last year | The achivement of net profit due to increase in sales compared to the same period 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 decline in net profit is due to the decrease in sales in the current quarter compared with the previous quarter despite the decrease in selling, general and administrative expenses. |
| Reclassifications in quarterly financial results | Some figures for last year have been reclassified to be consistent IFRS. |
| Other notes | The total sales for the third quarter is SR 777.9m, increased with 4.3% compared to the same quarter last year (SR 745.5m) The total sales for the period is SR 2,597m, increased with 9.6% compared to the same period last year (SR 2,370m) As of September 30, 2017 Shareholder's equity (no minority interest) reached SAR 507.8m vs. SAR 501.6m (no minority interest) as of September 30, 2016 showing a increase of 1.23% as a result of the early adoption of IAS 15 on contract revenue recognition with customers resulted in a decrease in retained earnings of SAR 71 million as at 1 January 2017. Without this effect, the increase in shareholders' equity is 15.6% and the net profit for the last twelve Months is SAR 109m. The Total comprehensive income for the quarter amounted to 26.2M compared to the same quarter last year 5.9 M an increase of 344% and 43.3M in previous quarter with decrease 40%. The Total comprehensive income for the period amounted to 82.6M compared to the same period last year (28.7) M Earning per Share for the previous year has been modified after approval of capital increase from 36 to 42 million shares which has been approved on 14 May 2017 in the extraordinary General Assembly meeting. |
Comments