‎“Aslak” profits surge to SR57 mln at the end of 2022, by 23%‎

The Union Wire Factories Company revealed an increase in net profit after zakat and tax during the year ending on December 31, 2022 to 56.7 million riyals, compared to 46.2 million riyals in the previous year, at a rate of 22.7%. This came after today’s announcement of the annual financial results ending in 2022- 12-31.

The operational profit amounted to 67.2 million riyals during the year ending on December 31, 2022, compared to 56.4 million riyals in the previous year, with a growth of 19%.

The total shareholders’ equity “without minority rights” amounted to 449.5 million riyals in the current year, compared to 442.6 million riyals in the previous year, an increase of 1.56%.

Earnings per share in the current year reached 1.61 riyals, compared to 1.32 riyals in the previous year.

– The reason for the increase in net profit for the current year (2022 AD) compared to the previous year (2021 AD) is mainly due to the growth in sales volume and the increase in profit margins.