DUBAI: Retailer United Electronics Co, the second-best performing Saudi Arabian stock of 2017, is looking to increased demand for televisions before this year’s soccer World Cup, expanded consumer credit and rising online sales to counter any slowdown caused by the start of value-added tax.
The company, known as eXtra, plans to open new stores in 2018 as it seeks to extend a return to profitability into 2018, chief executive officer Mohamed Galal said in an interview. First-quarter sales may be “very soft” after the Jan 1 introduction of VAT, “but activity should pick up in the second half,” he said.
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