Riyadh – Mubasher: United Wire Factories Company (Aslak) registered net profits of SAR 62.1 million in 2020, up by 181% when compared to SAR 22.1 million in 2019.

The higher quarterly earnings were helped by a growth in sales volume and profit margins, despite the rise in selling and distribution expenses and general and administrative expenses, and the drop in other income, according to a statement to the Saudi bourse on Sunday.

Revenue for the last year grew by 7.3% annually to stand at SAR 777.3 million.