Saudi news

Aslak profits rise 24% to 57.3 million riyals in 2022

The Union Wire Factories Company “Aslak” announced the estimated annual financial results ending on December 31, 2022, recording profits of 57.3 million riyals at the end of last year, an increase of 24%, compared to profits of 46.2 million riyals achieved by the company during the same period in 2021.

The company stated in a statement on “Tadawul Saudi Arabia”, today, Thursday, that the reason for the increase in profits is due to the growth in sales volume and the increase in profit margins.

In addition, the company stated that shareholders’ equity (after excluding minority rights) at the end of the period amounted to 449.5 million riyals, compared to 442.6 million riyals as at the end of the corresponding period of the year 2021.

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