United Electronics Company (eXtra), described as Saudi Arabia’s fastest-growing consumer electronics and home appliance retailer, announced its 12-month interim financial results for the period ending Dec. 31, 2013, driven by an increase in sales of all categories and the success of the company’s strategy to expand its physical footprint as well as its online and mobile presence.

The retailer’s net profit for the full year reached SR167.3 million, an increase of 5.49 percent compared to 2012. eXtra’s net profit for the fourth quarter ending Dec. 31, 2013, stood at SR58.8 million, an increase of 1.38 percent compared to the corresponding period in 2012.

Further demonstrating the company’s success in the past year, eXtra reported that total sales during 2013 were SR3,388 million, a year-on-year increase of 12.4 percent. Total sales for the fourth quarter of 2013 were at SR914 million, a decrease of 5.1 percent compared to the corresponding quarter in 2012, a result of the 2013 mega sale taking place at the end of September and beginning of October. In 2012, the mega sale took place entirely in the fourth quarter.

eXtra’s increased sales in 2013 was due to in part to the success of its ongoing network expansion strategy, which saw new stores opened in Makkah, Riyadh, Bisha, Jeddah, Qunfuda City and Al-Hassa.

The year also witnessed significant growth in eXtra’s online and mobile presence. Most notably, eXtra’s surpassed more than one million fans, the first-ever retail page in Saudi Arabia and the Middle East region to reach this milestone. 2013 also saw eXtra unveil a new and improved website, as well as an app for iPhone and iPad, with nearly 50,000 copies downloaded within a week of the app’s launch.

“2013 marked the completion of eXtra’s first decade of operations, and the milestone year will be remembered as an excellent one for the company as we increased profits and sales,” said Abdullah Abdulatif Al-Fozan, chairman, United Electronics Company (eXtra).

“Launched with one store in Riyadh in 2003, in just 10 years we have grown to become the largest electronics and home appliance retailer in the region. As we embark on the next phase of our journey, we will continue to unlock exciting new opportunities in the sector while innovating to ensure we exceed the expectations of our millions of loyal customers across the Kingdom,” he added.

Earnings Per Share (EPS) for the twelve months ending Dec. 31, 2013, amounted to SR5.6, compared to SR5.3 in the previous year.