ASLAK announces estimated financial results for year 2013

10/01/2014 13:48 AST

Estimated net profit of United Wire Factories Company (ASLAK) during the 4th Q 2013 amounted to SAR 25 million versus SAR 31.1 million for the same quarter of last year with a decrease of 19.61 %, compared to SAR 23.3 million for the previous quarter with an increase of 7.3 %.

Estimated gross profit during the 4th Q of 2013 added up to SAR 32.6 million versus SAR 37.8million for the same quarter of last year, a decrease of 13.76 percent.

Estimated operating profit decreased 20.39% to SAR 24.6 million during 4thQuarter of 2013 versus SAR 30.9 million for the same quarter of last year.

While, estimated net profit during 2013 showed an increase of 5.37 percent with SAR 121.6 million versus SAR 115.4 million for the last year 2012.

EPS of ASLAK during 2013 recorded as SAR 3.12 per share versus 2.96 SAR/Share for the same period last year 2012.

The estimated total gross profit during 2013 is recorded as SAR 150.9 million versus SAR 137.8 million for the last year 2012, showing an increase of 9.51 %.

The estimated total operating profit of ASLAK during 2013 amounted to SAR 120.2 million versus SAR 114.7 million for the last year 2012, an increase of 4.8 %.

The main reasons for the decrease in the current quarter Net Profit as compared to the previous one is due to the decrease in sales prices of some products because of the decrease in demand.

The main reason for increase in yearly net profit is due to the decrease in some cost items

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