Riyadh – Mubasher: The estimated net profits after Zakat and tax of United Electronics Company (eXtra) increased by 10.93% to SAR 440.20 million in 2022, versus SAR 396.83 million a year earlier.

During the 12-month period that ended on 31 December 2022, the Saudi firm generated revenues worth SAR 6.03 billion, an annual rise of 3.38% from SAR 5.83 billion, according to the income statements.

Meanwhile, the earnings per share (EPS) went up to SAR 5.50 in 2022 from SAR 4.96 in 2021.

In the fourth quarter (Q4) of 2022, the company’s net profits after Zakat and tax amounted to SAR 121.33 million, down 3.81% year-on-year (YoY) from SAR 126.14 million.

Additionally, the sales retreated by 12.49% YoY to SAR 1.54 billion in the October-December 2022 period, compared to SAR 1.76 billion.

On a quarterly basis, the Q4-22 net profits after Zakat and tax surged by 28.86% from SAR 94.16 million in Q3-22, while the revenues jumped by 12.67% from SAR 1.37 billion.

In the first nine months (9M) of 2022, eXtra logged net profits after Zakat and tax worth SAR 318.80 million, higher by 17.77% than SAR 270.69 million in 9M-21.