Riyadh – Mubasher: Saudi Arabia-based United Electronics Co. (eXtra) on Monday announced that its net profit surged 119.01% year-on-year during the fourth quarter of 2017.
Net profits rose to SAR 57.6 million in Q4-17, from SAR 26.3 million in Q4-16, according to a statement to the Saudi Stock Exchange (Tadawul).
Quarter-on-quarter, profits levelled up 120.69%.
The firm attributed the growth in its year-on-year net profit to the rise in sales.
EXtra achieved SAR 140.1 million profits in 2017, against SAR 2.4 million losses in 2016.
The stock inched up 0.99%, closing Sunday at SAR 47.95.
