Riyadh – Mubasher: United Wire Factories Company (Aslak) reported a net profit after Zakat and tax of SAR 12.10 million in the first nine months (9M) of 2023, a 73.29% decrease from SAR 45.30 million in the same period of 2022.

The revenues also declined by 20.88% to SAR 610.20 million in 9M-23, versus SAR 771.20 million in 9M-22.

The earnings per share (EPS) stood at SAR 0.36 in 9M-23, down year-on-year (YoY) from SAR 1.29.

Income Statements for Q3-23

In the third quarter (Q3) of 2023, the Saudi firm’s net profits after Zakat and tax reached SAR 2.20 million, a 26.67% decline from SAR 3 million in Q3-22.

The revenues fell by 30.75% YoY to SAR 182.90 million during the July-September 2023 period, compared to SAR 264.10 million.

On a quarterly basis, the Q3-23 net profit fell by 60% from the SAR 5.50 million recorded in Q2-23, while the revenues shrank by 8.64% from SAR 200.20 million.

Noteworthy to pinpoint that in April 2022, Aslak appointed Khaled Saad Al Kanhal as its Chairman for three years.