Riyadh - Mubasher: United Wire Factories Company (Aslak) reported SAR 38.6 million ($10.29 million) in profits in Q2-16 compared to SAR 24.9 million ($6.64 million) in the same period last year, an increase of 55%.
Profits were up 124.4% quarter-on-quarter and are the highest the company has achieved in the past 4 years, specifically since Q1-13 where profits reached SAR 39.6 million ($10.56 million), according to Aslak’s bourse filing.
The growth in profits was due to lower sales costs and higher profit margins, it added.
