Saudi: eXtra logs nearly $95.2mln profits in 9M-24 estimated results

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Riyadh – United Electronics Company (eXtra) achieved a net profit worth SAR 356.70 million in the first nine months (9M) of 2024, an annual rise of 34.91% from SAR 264.38 million.

The sales amounted to SAR 5.10 billion in the January-September 2024 period, higher by 10.02% than SAR 4.64 billion in the year-ago period, according to the estimated income statements.

Earnings per share (EPS) hit SAR 4.46 as of 30 September 2024, versus SAR 3.30 a year earlier.

Financials for Q3-24

During the third quarter (Q3) of 2024, eXtra posted 32.09% year-on-year (YoY) higher net profits at SAR 156.23 million, compared to SAR 118.27 million.

The group generated 10.41% YoY growth in sales to SAR 1.60 billion during July-September 2024, compared to SAR 1.45 billion.

Quarterly, the net profits in Q3-24 hiked by 46.55% from SAR 106.60 million in Q2-24, whereas the revenues dropped by 16.54% from SAR 1.92 billion.