United Wire Factories Company (ASLAK) in its interim financial results for the period ended March 31, 2013 stated that its net income for Q1 was SR 39.6 million compared to SR 32.9 million for the same quarter in 2012, representing an increase of 20.4 percent and compared to a net income for Q4 2012 of SR 32.3 million, representing an increase of 22.6 percent, according to Tadawul website.
Gross income for Q1 2013 amounted to SR 45.5 million compared to SR 38.3 million for the same quarter in 2012, representing an increase of 18.8 percent.
Income from operations for Q1 2013 amounted to SR 39.3 million compared to SR 32.7 million for the same quarter in 2012. This represents an increase of 20.2 percent.
Earnings per share for the three-month period ended March 31, 2013 amounted to SR 1.22 compared to SR 1.01 for the same period of 2012.
Net income for Q1 2013 increased compared to the same quarter of 2012 due to the decrease in the average cost of raw materials used in the production process.
Net income for the first quarter of 2013 increased compared to the last quarter of 2012 because of the increase in sales.
Last period’s comparative figures were reclassified so that they can match ones of the current period.
Profit boost for United Wire Factories
