United Electronics 1Q profit 94.7M riyals, +10% y/y

United Electronics Company reported a first-quarter net profit of SAR 94.7 million, representing a 10% year-over-year increase. This growth aligns with the company's broader performance in 2025, where full-year revenues rose by 9.8% to SAR 7,446.12 million, driven by strong performance in the retail and consumer finance sectors. The company's full-year net profit, however, declined slightly by 5.85% to SAR 497 million, primarily due to structural changes following the initial public offering (IPO) of United International Holding Company in December 2024. Adjusted for these structural changes, net profit increased by 6.3%, reflecting improved operational performance. The company also noted a 14.9% increase in gross profit during the year, which contributed to the resilience of its net earnings despite higher operating expenses. The first-quarter results indicate a continuation of this trend, with the company maintaining its focus on enhancing customer experience and expanding its consumer finance portfolio. Investors are likely to view the consistent performance in key business segments as a positive sign for future growth.