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United Wire Factories Co. announces its Annual financial results for the period ending on 2018-12-31

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Element List Current Year Previous Year %Change
Sales/Revenue 534.96 576.75 -7.245
Total Profit (Loss) 46.14 68.66 -32.799
Profit (Loss) Operational 17.03 35.65 -52.23
Net Profit (Loss) after Zakat and Tax 7.11 25.57 -72.193
Total Comprehensive Income 7.62 26.59 -71.342
Total Share Holders Equity (after deducting minority equity) 506.53 522.85 -3.121
Profit (Loss) per Share 0.16 0.58
All figures are in (Millions) Saudi Arabia, Riyals
Element List Explanation
Reason for increase (decrease) in net profit for current year compared to last year The decline in net profit this year versus last year is due to the reduction in sales as a result of the the continues low demand on building materials . in addition , during the 4th Q 2018 there was a fierce price competition due to raw material announced prices reduction when there were high stock at higher prices and the market demanded lower selling price for finished products immediately.
Type of the external auditor's opinion Unmodified opinion
Reclassifications in annual financial results 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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