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United Electronics Company (Extra) announces the Interim financial results for the period ending on 31-03-2018 (Three Months)

Element Current quarter Similar quarter for previous year % Change current Previous quarter % Change previous
Net profit (loss) 21.6 13 66.15 57.7 -62.56
Gross profit (loss) 152.9 134.4 13.76 252.9 -39.54
Operational profit (loss) 25.1 14 79.29 70.1 -64.19
Earning or loss per share, Riyals 0.51 0.31 - - -
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 sales compared to the same quarter last year, led to higher gross profit in addition to the increased margins of some products and services
Reasons of increase (decrease) for quarter compared with previous quarter The increase from mega sale's volume in the previous quarter is the main reason for the higher fourth quarter sales' and net profit compared to this quarter.
Reclassifications in quarterly financial results Some comparative figures have been reclassified to be consistent with the presentation of the current period.
Other notes The total sales for the first quarter is SR 865m, higher by 7.5% when compared to the same period last year (SR 805m)

As of March 31, 2018 Shareholder's equity (no minority interest) reached SAR 535m vs. SAR 469.6m (no minority interest) as of March 31, 2017 showing a increase of 13.9% .

The total comprehensive income for this quarter amounted to 21.6M compared to 13.0 M of the same quarter last year showing an increase of 66.3% and 58.3M for the previous quarter with decrease of 63%.

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.

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.

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