The United Electronics Company (Xtra) recorded an increase of 134%, with a net profit of SR 81 million in 2021, for about 34.7 million riyals in the same period from 2020.


According to Arab Net, the company said in a statement that the first quarter sales increased by 10.8% against the same quarter of the previous year, by paying the company's departments sales, as well as Extra and consumer service revenues through the United Financial Services Company, He has an impact on a total profit by 18.6% to score 261.9 million, compared to SR 220.8 million for the same quarter last year.


The total profit was 19.2% of total sales for the first quarter of this year compared to 17.9% from the first quarter last year.


In addition to lower sales expenses, public and administrative expenses compared to the same quarter of last year by 1.74% to record 12.0% of total sales, compared to 13.8% for the same quarter of the previous year.


It is worth mentioning that the net profit of the United Company for Financial Services has reached 20.2 million riyals from the first quarter of this year, against losses of SR 4 million from the same quarter last year.


Lift the market share


Mohammed Jalal, the Extra Electronics CEO, returned the strong results achieved by the company in the first quarter of this year to 3 major factors, is the increase in sales and reduced expenses and increased profit margin.


He explained in an interview with Arabism that last year, which saw the beginning of Corona's pandemic, the company has worked to form a team to reduce costs in a future, where the company has restructured organizational restructuring and reduced travel expenses and renegotiation on rents, which helped reduce expenses. p>


The market was expected to witness a kind of stability, pointing out that last year has seen non-recurrent events because of the pandemic.


He added that the company's focus is on a continuous market share, as Extra was able to increase its market share by about 13%.


"Last year we were able to raise the market share while maintaining profit margin at the same time, and in the first quarter of this year, we also visited our share of more than 19% compared to 17% last year.


Continue: We offer integrated solutions to customers in terms of the goods and ensure the best prices and provide the delivery service, and is located in 24 cities. This makes us solvers, and gives us the ability to increase the market share.


The Chief Executive Officer also referred to the role of emergency, saying we live a new reality because of the pandemic.