United Wire Factories Co. announces its Interim Financial Results for the Period Ending on 2019-09-30

17 October 2019 08:01 AM

Default Company 1301.O 0.00% 0.00 0.00

Element List	Current Quarter	Similar quarter for previous year	%Change	Previous Quarter	% Change
Sales/Revenue	168.3	106.7	57.731	144.1	16.793
Gross Profit (Loss)	8.4	8.7	-3.448	13.2	-36.363
Operational Profit (Loss)	3.6	2.1	71.428	7.5	-52
Net Profit (Loss) after Zakat and Tax	1.1	0.5	120	6	-81.666
Total Comprehensive Income	1.1	0.5	120	6	-81.666
All figures are in (Millions) Saudi Arabia, Riyals

Element List	Current Period	Similar period for previous year	%Change
Sales/Revenue	505.2	397.2	27.19
Gross Profit (Loss)	42.7	43.7	-2.288
Operational Profit (Loss)	24.5	23	6.521
Net Profit (Loss) after Zakat and Tax	17.2	15.5	10.967
Total Comprehensive Income	17.2	15.5	10.967
Total Share Holders Equity (after Deducting Minority Equity)	512.8	514.4	-0.311
Profit (Loss) per Share	0.39	0.35
All figures are in (Millions) Saudi Arabia, Riyals

Element List	Explanation
Increase (Decrease) in Net Profit for Current Quarter Compared to the Same Quarter of the Previous Year is Attributed to	The increase in net income for the 3rd quarter of 2019 compared to the 3rd quarter of 2018 is due to the increase in sales maintaining the amount of gross profit inspite of the decline in sales margins, In addition to the improvement of selling and distribution expenses ratio to total sales and the increase of other income despite the increase of Zakat.
Increase (Decrease) in Net Profit for Current Quarter Compared to the Previous Quarter is Attributed to	The decrease in net income for the 3rd quarter of 2019 compared to the 2nd quarter of 2019 is due to the the decline in gross profit in addition to the increase of Zakat.
Increase (Decrease) in Net Profit for Current Period Compared to the Similar Period of the Previous Year is Attributed to	The increase in net income for current period ( 9 months ) of 2019 compared to the same period ( 9 months ) of 2018 is due to the increase in sales maintaining the amount of gross profit in spite of the decline in sales margins, In addition to the improvement of selling and distribution expenses ratio to total sales, the reverse of the decline in the trading accounts receivables and the increase of other income.
Basis of the External Auditor's Opinion	Unmodified opinion
Modification, Qualification or Emphasis of a Matter as Stated within the External Auditor Opinion	No remarks
Reclassification of Comparison Items	Some of the same period comparative figures were reclassified to comply with the current period comparative figures
Additional Information	The Company implemented the international financial reporting standards as of 1/1/2017 and implemented IAS 16 Financial Leases as of 1/1/2019

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