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Extra's Q3 profit falls to 104.6M riyals
The financial results of United Electronics Company "Extra" for the third quarter of 2026 showed a 26.7% year-over-year decrease in net profit, reaching 104.63 million riyals, despite a 5.5% increase in revenue to 1.89 billion riyals. The growth in the retail and consumer finance segments contributed to the rise in revenues, but the profits of the finance sector continued to decline by 82.4% due to increased losses from impairments of financial assets and provisions for credit risk, leading to a 10% drop in profits for the first nine months to 301.85 million riyals. Nevertheless, the retail sector experienced a 10.6% growth in profit during the quarter, supported by improved margins, positive performance in the business segment, and the launch of new products such as the iPhone 18.
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