United Wire Reports SAR 1.1M Net Loss in Three Months 2026
ASLAK 1301.SA | 0.00 |
On 2026-05-11 16:10:51 (Saudi Time), United Wire Factories Co. announced its Interim financial results for the three months ended on March 31, 2026.
| Element List | Current Quarter | Similar quarter for previous year | %Change | Previous Quarter | % Change |
|---|---|---|---|---|---|
| Sales/Revenue | 174.9 | 164.8 | 6.128 | 223.2 | -21.639 |
| Gross Profit (Loss) | 12.9 | 10.5 | 22.857 | 13.4 | -3.731 |
| Operational Profit (Loss) | -1.1 | -0.2 | 450 | 1.5 | - |
| Net Profit (Loss) Attributable to Shareholders of the Issuer | -1.1 | -0.6 | 83.333 | 1.3 | - |
| Total Comprehensive Income Attributable to Shareholders of the Issuer | -1.1 | -0.6 | 83.333 | -1.8 | -38.888 |
| All figures are in (Millions) Saudi Arabia, Riyals | |||||
| Element List | Current Period | Similar period for previous year | %Change |
|---|---|---|---|
| Total Shareholders Equity (after Deducting Minority Equity) | 354.6 | 366.9 | -3.352 |
| Profit (Loss) per Share | -0.04 | -0.02 | |
| All figures are in (Millions) Saudi Arabia, Riyals | |||
| Element List | Amount | Percentage of the capital (%) | |
|---|---|---|---|
| Profit (Losses) Resulting From The Change In Investment Propertie’s Fair Value | - | - | |
| Accumulated Losses | - | - | |
| All figures are in (Millions) Saudi Arabia, Riyals | |||
Year-on-Year Performance Drivers
Sales increased 6.128% YoY to SAR 174.9 million primarily due to increased sales volume. However, net loss widened significantly by 83.333% to SAR 1.1 million compared to SAR 0.6 million in the prior year, mainly driven by provisions for customer debts despite the improvement in gross profit which rose 22.857% to SAR 12.9 million.
Quarter-on-Quarter Performance Drivers
QoQ revenue declined 21.639% from SAR 223.2 million to SAR 174.9 million, primarily due to decreased sales volume. The company shifted from a net profit of SAR 1.3 million in the previous quarter to a net loss of SAR 1.1 million in the current quarter. This deterioration was mainly driven by lower gross profit resulting from reduced sales volumes and increased provisions for customer debts during the current quarter.
Other Items
The external auditor issued an unmodified conclusion with no additional comments mentioned in other matter, conservation, notice, disclaimer of opinion, or adverse opinion paragraphs. Total shareholders equity decreased 3.352% to SAR 354.6 million compared to the previous year. Loss per share was SAR 0.04 compared to SAR 0.02 in the same quarter of the previous year. The company reported no accumulated losses as a percentage of capital. Certain comparative figures from the previous year were reclassified to conform to current period classification.
Original announcement:
https://www.saudiexchange.sa/wps/portal/saudiexchange/newsandreports/issuer-news/issuer-announcements/issuer-announcements-details/?anId=95259&anCat=1&cs=1301&locale=arImportant Notice: The announcement information and market data in this report are sourced directly from the Saudi Exchange (Tadawul). This summary is generated by Sahm’s proprietary AI model for informational purposes only. While we strive for accuracy, it should not be construed as financial advice or an investment recommendation.