The results of the Union Wire Factories Company revealed that the company’s profits in the first half of this year increased by 39.7%, on an annual basis, to reach 42.2 million riyals, compared to 30.2 million riyals in the same period of 2021.
The company said in a statement to the Saudi market (Tadawul), today, Monday, that the increase in profits during the comparison periods is mainly due to the growth in sales volume and the increase in profit margins, despite the refund of the amount of the decrease carried by (Covid-19) for the same period of the previous year.
The company achieved a profit of 16.2 million riyals in the second quarter of this year, compared to the profits of the same period last year of 14.10 million riyals, an increase in profits by 14.9%.
The company's board of directors decided to distribute cash dividends to shareholders for the first half of this year at a rate of 10% of the nominal value of the share at one riyal per share, with a total value of 35.10 million riyals.
