| The reason of the increase (decrease) in the sales/ revenues during the current quarter compared to the same quarter of the last year is | United International Holding Company recorded a growth of 25.3% in its consumer finance revenues, reaching 174.65 million Saudi riyals, compared to 139.43 million Saudi riyals in the same quarter last year. This increase was driven by increase in the number of customers obtaining financing, which contributed to a 29% growth in the consumer finance portfolio. |
| The reason of the increase (decrease) in the net profit during the current quarter compared to the same quarter of the last year is | United International Holding Company’s net profit grew by 10.4% in the current quarter compared to the same quarter of the previous year, driven by a growth in revenues of 25.3%. This performance resulted in a 26.9% growth in Gross profit (net income generated by Sharia-compliant financing contracts). Despite higher operating expenses and higher expected credit loss provisions driven by the growth in Consumer finance portfolio, the company successfully achieved this growth in net profits. |
| The reason of the increase (decrease) in the sales/ revenues during the current quarter compared to the previous one is | The consumer finance portfolio of United company for Financial Services grew by 6.3% compared to the previous quarter, leading to a 1.1% increase in first-quarter Income from Islamic financing contracts compared to the previous quarter. |
| The reason of the increase (decrease) in the net profit (loss) during the current quarter compared to the previous one is | The net profit of United International Holding Company decreased by 10% in the current quarter compared to the previous quarter, due to an increase in operating expenses and higher ECL, in line with the growth in the financing portfolio and the company’s operations. |
| Statement of the type of external auditor’s report | Unmodified conclusion |
| Comment mentioned in the external auditor’s report, mentioned in any of the following paragraphs (other matter, conservation, notice, disclaimer of opinion, or adverse opinion) | None |
| Reclassification of Comparison Items | Some comparative figures have been reclassified to be consistent with the presentation of the current period |
| Additional Information | – |
