Riyadh – Mubasher: United Electronics Company (eXtra) recorded a 20.03% rise in its estimated net profits to SAR 97.47 million in the first quarter (Q1) of 2022, compared to SAR 81.2 million in the same quarter of 2021.

Higher profits are driven by a slight increase in retail sector sales and a rise in consumer finance revenues through United Company for Financial Services, according to a bourse filing on Monday.

The company generated revenues of SAR 1.41 billion in Q1-22, up 3.46% from SAR 1.36 billion in the year-ago period.

The earnings per share (EPS) settled at SAR 1.62 in the first three months of 2022, versus SAR 1.35 in the corresponding month of 2021.

It is noteworthy to mention that in 2021, the estimated net profits after Zakat and tax of eXtra jumped by 41.61% to SAR 396.7 million from SAR 280.14 million in 2020.

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