United Wire Factories Co. announces its interim Financial results for the period ending on 2018-09-30 ( Nine Months )

24 October 2018 08:21 AM

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Element List	Current Quarter	Similar quarter for previous year	%Change	Previous Quarter	% Change
Sales/Revenue	106,653	129,975	-17.943	145,563	-26.73
Total Profit (Loss)	8,672	18,952	-54.242	15,781	-45.047
Profit (Loss) Operational	2,109	10,896	-80.644	9,817	-78.516
Net Profit (Loss) after Zakat and Tax	487	7,225	-93.259	7,317	-93.344
Total Comprehensive Income	487	7,225	-93.259	7,317	-93.344
All figures are in (Thousands) Saudi Arabia, Riyals

Element List	Current Period	Similar period for previous year	%Change
Sales/Revenue	397,238	409,746	-3.052
Total Profit (Loss)	43,745	49,906	-12.345
Profit (Loss) Operational	23,039	23,857	-3.428
Net Profit (Loss) after Zakat and Tax	15,539	15,427	0.725
Total Comprehensive Income	15,539	15,427	0.725
Total Share Holders Equity (after deducting minority equity)	516,453	511,692	0.93
Profit (Loss) per Share	0.35	0.35
All figures are in (Thousands) Saudi Arabia, Riyals

Element List	Explanation
Reason for increase (decrease) in net profit for current quarter compared to the same quarter of the previous year	Net income, comperhansive income, gross income, and operating income have decreased during the third quarter 2018 compared to corrisponding quarter last year due to the decrease in Net Salesas a result of the ongoing recession in construction sector, fierce priceing competition, and the negative effect of summer holidey and hajj season on the sector.
Reason for increase (decrease) in net profit for current quarter compared to the previous quarter	Net income, comperhansive income, gross income, and operating income have decreased during the third quarter of 2018 compared to previous quarter same year Due to the decrease in Net sales as a rsult of the ongoing recession in construction sector, fierce priceing competition, and the negative effect of summer holidey and hajj season on the sector.
Reason for increase (decrease) in net profit for current period compared to the similar period of the previous year	Net income and comperhansive income have inecreased during the current period of 2018 compared to the same period last year due to decreased zakat expenses. Gross income and operating income have decreased during the current period of 2018 compared to the same period last year as a rsult of the ongoing recession in construction sector, fierce priceing competition, and the negative effect of summer holidey and hajj season on the sector during Q3.
Type of the external auditor's opinion	Unmodified opinion
Reclassifications in quarter financial result	Some of the last period comparative figures were reclassified to comply with the current period comparative figures
Additional Information	Company implemented IFRS starting 1st of January 2017

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