Riyadh – Mubasher: United Wire Factories Company (Aslak) recorded a 25.6% year-on-year (YoY) decrease in net profits after Zakat and tax to SAR 46.2 million in 2021 from SAR 62.1 million.

Earnings per share was down to SAR 1.32 in 2021, compared to SAR 1.51 in 2020, according to the estimated financial results recently announced.

Revenues jumped by 18.46% to SAR 921.3 million during 2021from SAR 777.7 a year earlier.

The Saudi listed company attributed the decrease in 2021 net profits to a decline in gross margin.

It is worth noting that in the first half (H1) of 2021, Aslak achieved net profits after Zakat and tax worth SAR 30.2 million, up by 10.6% from SAR 27.3 million in H1-20.