RIYADH: Saudi Arabia’s steel wire manufacturer United Wire Factories Co. has seen a drop in its 2021 profits led by a lower gross margin. Profits slumped by over 25 percent year-on-year to reach SR46.2 million ($12.3 million), the homegrown firm said in a bourse statement. Even as revenues jumped by 18.5 percent during the year, gross profit retreated 25 percent due to higher