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United Wire Factories Co. announces its Interim Financial Results for the Period Ending on 2019-09-30

Element ListCurrent QuarterSimilar quarter for previous year%ChangePrevious Quarter% Change
Sales/Revenue 168.3106.757.731144.116.793
Gross Profit (Loss) 8.48.7-3.44813.2-36.363
Operational Profit (Loss) 3.62.171.4287.5-52
Net Profit (Loss) after Zakat and Tax 1.10.51206-81.666
Total Comprehensive Income 1.10.51206-81.666
All figures are in (Millions) Saudi Arabia, Riyals
Element ListCurrent PeriodSimilar period for previous year%Change
Sales/Revenue 505.2397.227.19
Gross Profit (Loss) 42.743.7-2.288
Operational Profit (Loss) 24.5236.521
Net Profit (Loss) after Zakat and Tax 17.215.510.967
Total Comprehensive Income 17.215.510.967
Total Share Holders Equity (after Deducting Minority Equity) 512.8514.4-0.311
Profit (Loss) per Share 0.390.35
All figures are in (Millions) Saudi Arabia, Riyals
Element ListExplanation
Increase (Decrease) in Net Profit for Current Quarter Compared to the Same Quarter of the Previous Year is Attributed to The increase in net income for the 3rd quarter of 2019 compared to the 3rd quarter of 2018 is due to the increase in sales maintaining the amount of gross profit inspite of the decline in sales margins, In addition to the improvement of selling and distribution expenses ratio to total sales and the increase of other income despite the increase of Zakat.
Increase (Decrease) in Net Profit for Current Quarter Compared to the Previous Quarter is Attributed to The decrease in net income for the 3rd quarter of 2019 compared to the 2nd quarter of 2019 is due to the the decline in gross profit in addition to the increase of Zakat.
Increase (Decrease) in Net Profit for Current Period Compared to the Similar Period of the Previous Year is Attributed to The increase in net income for current period ( 9 months ) of 2019 compared to the same period ( 9 months ) of 2018 is due to the increase in sales maintaining the amount of gross profit in spite of the decline in sales margins, In addition to the improvement of selling and distribution expenses ratio to total sales, the reverse of the decline in the trading accounts receivables and the increase of other income.
Basis of the External Auditor's Opinion Unmodified opinion
Modification, Qualification or Emphasis of a Matter as Stated within the External Auditor Opinion No remarks
Reclassification of Comparison Items Some of the same period comparative figures were reclassified to comply with the current period comparative figures
Additional Information The Company implemented the international financial reporting standards as of 1/1/2017 and implemented IAS 16 Financial Leases as of 1/1/2019

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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