The financial statements of the United Electronics Company (Extra) showed an increase in the company's profits in 2021 by 41%; To reach 396.7 million riyals.
The company said in a statement to the Saudi market (Tadawul), today, Monday, that last year's revenues fell by 2.1%; To reach 5.8 billion riyals.
Quarterly, the company's fourth-quarter profit rose 23.9%; To reach 125 million riyals, compared to 101.64 million riyals in the same period in 2020.
The company attributed the increase in profits in the fourth quarter, despite the decline in revenues by 9.5% compared to the same quarter of the previous year, to the growth in revenues from consumer financing services.
And she explained that the total profit increased during the comparison periods by 12.3% to reach 355.8 million riyals, compared to 316.8 million riyals in the fourth quarter of 2020; This contributed to the growth of net profits despite the increase in selling and operating expenses and general and administrative expenses.
