Riyadh – Mubasher: The net profits after Zakat and tax of United Electronics Company (eXtra) reached SAR 146 million in the first half (H1) of 2023, down 35% from SAR 224.63 million in H1-22.
The Saudi firm generated revenues standing at SAR 3.17 billion in H1-23, marking an annual rise of 2.09% from SAR 3.11 billion, according to estimated financial results.,
Earnings per share (EPS) reached SAR 1.83 during the first six months (6M) of 2023, compared to SAR 2.81 in the year-ago period.
Income Stalemates for Q2
During the second quarter (Q2) of 2023, eXtra logged net profits after Zakat and tax amounting to SAR 61.60 million, an annual plunge of 51.54% from SAR 127.12 million.
Meanwhile, the company’s revenues hit SAR 1.73 billion in the April-June 2023 period, up 2.29% year-on-year (YoY) from SAR 1.70 billion.
On a quarterly basis, the Q2-23 net profits dropped by 27.05% from SAR 84.44 million in Q1-23, while the revenues surged by 20.94% from SAR 1.43 billion.
In the January-March 2023 period, eXtra recorded a 13.44% YoY decline in net profit after Zakat and tax to SAR 84.40 million from SAR 97.51 million.
