Riyadh – Mubasher: United Wire Factories Company (Aslak) reported a 49.5% increase in net profit during the first quarter (Q1) of 2020 to SAR 15.1 million, up from SAR 10.1 million in Q1-19, quarterly interim financial results showed.

Growth in sales volume helped revenues expand by 14% to SAR 220.3 million and contributed to the increase in profits and profit margins, according to a market disclosure.

However, selling and general expenses increased during the three-month period.