AnnouncementDetails

Actions

United Electronics Company (Extra) announces the Estimated financial results for the period ending on 31-12-2017 (TEWELVE Months)

Element Current quarter Similar quarter for previous year % Change current Previous quarter % Change previous
Net profit (loss) 57.6 26.3 119.01 26.1 120.69
Gross profit (loss) 252.7 213.4 18.42 150.2 68.24
Operational profit (loss) 70 44.1 58.73 27.7 152.71
All figures are in (Millions) Saudi Arabia, Riyals
Element Current period Similar period for previous year % Change
Net profit (loss) 140.1 -2.4 -
Gross profit (loss) 710.1 589.3 20.5
Operational profit (loss) 156.2 23.5 564.68
Earning or loss per share, Riyals 3.34 -0.06 -
All figures are in (Millions) Saudi Arabia, Riyals
Element EXPLAINATION
Reasons of increase (decrease) for quarter compared with same quarter last year The increase in net profit due to increase in sales compared to the same quarter last year, which led to higher gross profit in addition to increasing the margin on some products and services .
Reasons of increase (decrease) for period compared with same period last year The achievement of net profit due to increase in sales compared to the same period last year, which led to higher gross profit in addition to increasing the margin on some products and services and decrease in selling expenses.
Reasons of increase (decrease) for quarter compared with previous quarter The Net Profit has increased due to the Increase in sales across all departments as a result of having the Mega Sale event during the fourth quarter of every year, that positively contributed towards better gross and operation profit despite the Increase in selling and administration expenses as well as Zakat expenses.
Reclassifications in quarterly financial results Comparative figures have been adjusted to conform to the IFRS adoption.
Other notes The estimated total sales for the fourth quarter is SR 1,613m, increased with 16.3% compared to the same quarter last year (SR 1,387m)

The estimated total sales for the year is SR 4,210m, increased with 12.1% compared to the same period last year (SR 3,757m)

As of December 31, 2017 Shareholder's equity (no minority interest) reached SAR 566m vs. SAR 527m (no minority interest) as of December 31, 2016 showing a increase of 7.4% .
The early adoption of IAS 15 (Revenue from Contracts with Customers) resulted in a decrease in retained earnings of SAR 71 million as at 1 January 2017. Without this effect, the increase in shareholders' equity would have reached 20.9% as the net profit for the last twelve Months is SAR 140.1m.

The Total comprehensive income for the quarter amounted to 57.7M compared to the same quarter last year 26.3 M an increase of 119% and 26.2M in previous quarter with increase of 120%.

The Total comprehensive income for the period amounted to 140.3M compared to the same period last year (2.5) M

Earning per Share for the previous year has been modified after approval of capital increase from 36 to 42 million shares which has been approved on 14 May 2017 in the extraordinary General Assembly meeting.

Based on CMA announcement dated 14-11-2017 regarding exempting listed companies from disclosing the 4th Quarter financial statements for current financial year. The annual financial statements will be issued including the results of the final fourth quarter.

The Capital Market Authority and the Saudi Stock Exchange take no responsibility for the contents of this disclosure, make no representations as to its accuracy or completeness, and expressly disclaim any liability whatsoever for any loss arising from, or incurred in reliance upon, any part of this disclosure, and the issuer accepts full responsibility for the accuracy of the information contained in it and confirms, having made all reasonable enquiries, that to the best of their knowledge and belief, there are no other facts or information the omission of which would make the disclosure misleading, incomplete or inaccurate.

Company Profile

Actions

Company Profile

Summary

Last Price Net Change
74.4 -0.2 (-0.27%)
Value Traded (SAR) Volume Traded
13,701,576.4 183,487

RelatedAnnouncementPortlet

Actions

Related Announcements