Saudi: eXtra posts nearly $25mln net profits in Q1-24

The company’s revenues hit $421mln in Q1-24, up 9.87%

Staff Writer, Mubasher

April 16, 2024

PHOTO

Riyadh – The estimated net profits of United Electronics Company (eXtra) surged by 11.15% year-on-year (YoY) to SAR 93.86 million in the first quarter (Q1) of 2024 from SAR 84.44 million.

The company’s revenues hit SAR 1.58 billion in Q1-24, up 9.87% from SAR 1.43 billion during the January-March 2023 period, according to the income statements.

Meanwhile, the earnings per share (EPS) grew YoY to SAR 1.17 as of 31 March 2024 from SAR 1.06.

Quarterly, the Q1-24 net profits plunged by 25.55% from SAR 126.08 million in Q4-23, while the revenues increased by 1.31% from SAR 1.55 billion.

Last month, eXtra disbursed SAR 160 million in cash dividends for the second half (H2) of 2023.

Disclaimer: The content of this article is syndicated or provided to this website from an external third party provider. We are not responsible for, and do not control, such external websites, entities, applications or media publishers. The body of the text is provided on an “as is” and “as available” basis and has not been edited in any way. Neither we nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this article. Read our full disclaimer policy here.