25
Jul
12:57
Saudi re-roller second-quarter sales, profit rebound
United Wire Factories Co. (Aslak) increased net sales 8% on-year in the second quarter to SAR 135 million ($36m), while net profit surged to SAR 7.3m versus SAR 0.49m in the year-earlier quarter. Besides higher sales, profit was boosted by decreased general selling expenses.
Compared to Q1, however, net profit was down -5% due to increased cost of goods sold and reduced profit margin.
In the first half of 2018 Aslak thus grew net sales 4% on-year to SAR 291m,…
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