Printing and Packaging reports SR0.9 mln profits in Q2‎

The Saudi Printing and Packaging Co. achieved a net profit (after zakat and tax) in the second quarter amounted to 0.9 million riyals, compared to a loss of 15.3 million riyals in the same quarter of last year (six months).

The operational profit amounted to SR 10.2 million in the second quarter, compared to a loss of 6.2 million riyals in the same quarter of the previous year.

The net loss after zakat and tax in the 6-month period amounted to 2.3 million riyals, compared to a loss of 28.9 million riyals in the same period last year.

The total shareholders’ equity “without minority rights” amounted to 639.3 million riyals in the current period, compared to 673.2 million riyals in the same period last year, a decrease of 5.04%.

The company recorded loss per share in the current period at SR 0.04, compared to 0.49 in the same period last year.

The main reason for the increase in net profit during the second quarter of the fiscal year 2022 AD compared with the same quarter of the previous year is due to the increase in revenues and the decrease in revenue costs.

The main reason for the increase in net profit during the second quarter of the fiscal year 2022 AD compared to the net loss during the previous quarter is the increase in revenues and the decrease in revenue costs.

The main reason for the decrease in net loss is due to the increase in the revenues of the current period compared to the same period of the previous year, in addition to the decrease in the costs of revenues.

Additional Information:

• Total revenues during the current quarter amounted to 270.2 million riyals, compared to 194.2 million riyals for the same quarter of the previous year, an increase of 39%, and compared to 236.4 million riyals in the previous quarter, an increase of 14%
• Total comprehensive income during the current quarter amounted to 0.90 million riyals, compared to a comprehensive loss of -15.75 million riyals for the same quarter of the previous year, and compared to a loss of -3.28 million riyals for the previous quarter.
• Total shareholders’ equity (after excluding minority interests) at the end of the current quarter amounted to 639.3 million riyals, compared to 673.2 million riyals for the same quarter of the previous year, with a decrease of (5.0%) and compared to 641.8 million riyals at the end of the previous quarter, a decrease of (0.05)%.
• Accumulated losses amounted to 68.9 million riyals, which represents 11.5% of the capital.