Riyadh – Mubasher: United Electronics Company (eXtra) signed a 10-year commercial alliance with Panda Retail Company on 5 December 2023.

eXtra will manage the electronics and home appliances department in Panda stores under the brand name Clix.

This strategic partnership aims to leverage eXtra's expertise in the consumer electronics sector and Panda's extensive reach as the largest retail chain in Saudi Arabia. The collaboration is expected to offer an unparalleled customer experience across the Kingdom, according to a bourse disclosure.

The alliance serves eXtra's strategy of expanding its customer base, the listed company noted, adding that the financial impact will reflect as of the first quarter (Q1) of 2024.

In the first nine months (9M) of 2023, eXtra reported a net profit of SAR 264.30 million after Zakat and tax.

It is worth mentioning that the listed entity recently unveiled an initial public offering (IPO) plan for its subsidiary United International Holding Company.