United Electronics Company (Extra) announces the Estimated financial results for the period ending on 31 March 2019 (Three Months)
| Element List | Current Quarter | Similar quarter for previous year | %Change | Previous Quarter | % Change |
|---|---|---|---|---|---|
| Sales/Revenue | 1,057.5 | 864.62 | 22.308 | 1,619.3 | -34.694 |
| Total Profit (Loss) | 187.84 | 152.91 | 22.843 | 267.5 | -29.779 |
| Profit (Loss) Operational | 47.07 | 25.07 | 87.754 | 67.3 | -30.059 |
| Net Profit (Loss) after Zakat and Tax | 34.01 | 21.57 | 57.672 | 63.1 | -46.101 |
| Total Comprehensive Income | 34.01 | 21.58 | 57.599 | 64.3 | -47.107 |
| All figures are in (Millions) Saudi Arabia, Riyals | |||||
| Element List | Current Period | Similar period for previous year | %Change |
|---|---|---|---|
| Total Share Holders Equity (after deducting minority equity) | 595.75 | 534.67 | 11.423 |
| Profit (Loss) per Share | 0.68 | 0.43 | |
| All figures are in (Millions) 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 | The increase in net profit due to The increase in sales compared to the same quarter last year which led to higher gross profit in addition to the increased margins of some products and services |
| Reason for increase (decrease) in net profit for current quarter compared to the previous quarter | The Net Profit has decreased due to The increase from mega sale's volume in the previous quarter is the main reason for the higher fourth quarter sales' and net profit compared to this quarter. |
| Type of the external auditor's opinion | Unmodified opinion |
| External auditor's report containing reservation | These estimated financial results for the period ended 31 March 2019 are prepared by the management of the Company and these results are not reviewed by the external auditors |
| Additional Information | Earnings per Share for the previous year has been modified after approval of capital increase which has been approved on 18 Sep 2018 in the extraordinary General Assembly meeting.
Effective 1 January 2019, the company adopted IFRS 16 using modified retrospectively with the cumulative effect of the initial application as an adjustment to the opening balance of equity with a decrease of 84 Million as at 1 January 2019 and will not restate the comparative figures for 2018 as permitted by transition provisions specified in the Standard. |
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