Riyadh – Mubasher: United Wire Factories Co.- (Aslak) posted SAR 17.3 million ($4.6 million) net profit for the first quarter of 2016, a rise of 23.57% year-on-year from SAR 14 million ($3.73 million) in the same period a year earlier, according to a bourse filing posted Monday.
The company ascribed the profit rise to a decrease in cost of sales despite an increase in general and administrative expesnes.
