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eXtra records SAR 182m profits in H1-21; dividends announced

eXtra records SAR 182m profits in H1-21; dividends announced
eXtra will pay a total of SAR 120 million as dividends
-0.14% 142.60 -0.20

Riyadh – Mubasher: United Electronics Company (eXtra) achieved net profits after Zakat and tax worth SAR 181.7 million during the first half (H1) of 2021, higher by 45% than SAR 125.06 million in H1-20.

Earnings per share stood at SAR 3.03 in H1-21, compared with SAR 2.08 in H1-20, according to the interim financial results on Monday.

Sales decreased by 3% to SAR 2.69 billion during the January-June 2021 period from SAR 2.78 billion in the same six months last year.

During the second quarter (Q2) of 2021, eXtra registered an annual rise of 11% in net profits to SAR 100.5 million from SAR 90.38 million in Q2-20.

Sales meanwhile shrank by 14% to SAR 1.32 billion in Q2-21 from SAR 1.55 billion in Q2-20.

On a quarterly basis, the company’s Q2-21 profits were higher by 23.7% from SAR 81.2 million in Q1-20. Sales however were lower by 2.6% than SAR 1.36 billion.

In a separate disclosure, eXtra said its board of directors decided to distribute SAR 2 per share, representing 20% of the share’s par value, as a cash dividend for H1-21.

The company will pay a total of SAR 120 million, with the number of shares eligible for distribution standing at SAR 60 million.

eXtra said the entitlement date is 15 July, while the distribution date is 5 August.