Riyadh – Mubasher: United Electronics Company (eXtra) posted a 17.77% jump in net profit after Zakat and tax to SAR 318.80 million during the first nine months (9M) of 2022, versus SAR 270.69 million in the year-ago period.
Revenues surged by 10.32% year-on-year (YoY) to SAR 4.48 billion in the January-September 2022 period from SAR 4.06 billion, according to the estimated financial results.
The earnings per share (EPS) stood at SAR 5.31 in 9M-22, higher than SAR 4.51 in 9M-21.
During the third quarter (Q3) of 2022, eXtra achieved net profits after Zakat and tax worth SAR 94.20 million, up 5.84% from SAR 89 million in Q3-21. The revenues amounted to SAR 1.37 billion, quite unchanged from Q3-21.
On a quarterly basis, the Q3-22 net profits after Zakat and tax plunged by 25.90% from SAR 127.12 million in Q2-22, while the revenues retreated by 19.23% from SAR 1.70 billion.
In the first half (H1) of 2022, the Saudi firm generated SAR 224.61 million in net profit after Zakat and tax, an annual increase of 23.61% from SAR 181.70 million in H1-21.
Earlier in October, the company’s shareholders granted their approval for a 33.33% capital hike to SAR 800 million from SAR 600 million through bonus shares.
