The profits of “Extra” rose 11% to 440.2 million riyals in 2022

United Electronics Company (Extra) announced the estimated financial results for the period ending on December 31, 2022, as the company’s profits increased by 11% to reach 440.2 million riyals at the end of 2022, recording the highest profits in its history, compared to profits of 396.8 million riyals recorded by the company during the same period. From 2021.

And the company stated in a statement on “Tadawul Saudi Arabia” today, Tuesday, that the reason for the increase in profits during the year 2022 compared to the year 2021 is due to the increase in revenues by 3.4%.

She added that, supported by the increase in revenues from consumer financing services and extra services, the gross profit grew by 6.6% over the same period in the previous year, to record a total profit of 1,261.3 million riyals, compared to 1,183.7 million riyals for the same period in the previous year, which had an impact on the net profit growth by 10.9% compared to the same period of the previous year.

This came despite the increase in selling, operating, general and administrative expenses.