The Union Wire Factories Company (Aslak) achieved a 15.57% increase in net profits for the second quarter of this year to reach 14.1 million riyals, compared to 12.2 million riyals in the previous year. The same quarter of the previous fiscal year.
According to Arabiya Net, Aslak's net profit fell on a quarterly basis by 12.4%, compared to a net profit of about 16.1 million riyals in the first quarter of 2021.
Aslak's net profit rose by 10.6% in the first half of 2021, to 30.2 million riyals, compared to 27.3 million riyals in the same period of the previous fiscal year. .
The company said in a statement on Saudi Arabia's Tadawul, today, Sunday, that the reason for the increase in net profit for the second quarter of the current fiscal year, on an annual basis, is due to the growth in the volume of Sales and refunded the amount of the decrease charged to the commercial debtors (Covid 19), despite the increase in selling and general expenses and zakat expense.
