United Electronics Company (Extra) achieved a growth of 36% in the net profit for the fiscal year ending on December 31, 2020, to reach 280.3 million riyals, compared to 205.6 million riyals during 2019.
According to Arabiya Net, the company's revenues amounted to about 5.96 billion riyals in 2020, compared to 5.134.6 billion riyals in 2019, with a growth rate of 16.12%.
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The company attributed the increase in annual profits to an increase in sales during all quarters of the year by increasing sales of existing exhibitions as well as increasing e-commerce sales that exceeded the one billion riyals barrier for the first time in history. < / p>
It is worth noting that the United Financial Services Company has turned to profit during the year 2020, within only one year of starting its operations in the Kingdom, to record a net profit of 21.3 million riyals. In exchange for losses estimated at 18.9 million riyals for the year 2019.
On the level of the fourth quarter, the company achieved a net profit growth of 41% to reach 101.8 million riyals, compared to 72.1 million riyals during the same period last year. < / p>
The company's sales during that period increased by 3.9% to reach 1.95 billion riyals compared to 1.88 million riyals profits during the same period last year.
the company attributed this increase to the increase in sales of all the company's divisions in addition to the increase in the revenues of Extra services and the revenues of consumer finance services, which had an impact on the increase in total profit by 7.3% To record 323 million compared to 301 million riyals for the same quarter of the previous year, in addition to the decrease in selling expenses compared to the same quarter of the previous year.
It is worth noting that the net profit of the United Financial Services Company amounted to 15.1 million riyals for the fourth quarter of the current year in exchange for losses estimated at 3 million riyals for the same quarter From the previous year.
