‎“Printing & packaging” losses decline by 84.4% during 2022, to ‎SR9.2 mln

Saudi Printing & Packaging Co. revealed a decrease in net loss after zakat and tax during the year ending on December 31, 2022 to 9.2 million riyals, compared to 59.3 million riyals in the previous year, at a rate of 84.4%. This came after today’s announcement of the annual financial results ending in 2022. -12-31.

Operational profit amounted to 19.7 million riyals during the year ending on December 31, 2022, compared to an operating loss of 23.1 million riyals in the previous year.

The total shareholders’ equity “without minority rights” amounted to 637.9 million riyals in the current year, compared to 641.7 million riyals in the previous year, a decrease of 0.59%.

The loss per share in the current year reached 0.15 riyals, compared to 0.99 riyals in the previous year.

– The main reason for the increase in gross profit is due to the increase in sales, and the decrease in net loss during the fiscal year 2022 AD compared to the net loss during the fiscal year 2021 AD is due to the previous reasons in addition to the increase in other revenues.

Additional information:

1- Sales during the current year amounted to 1,000.09 million riyals, compared to 783.64 million riyals for the same period of the previous year, an increase of 27.62%.

2- Total shareholder equity (no minority rights) during the current period amounted to 637.94 million riyals, compared to 641.75 million riyals for the same period of the previous year, with a decrease of -0.59%.

3- The accumulated losses amounted to 70.40 million riyals, which represents 11.73% of the capital.

4- The total comprehensive loss during the current period amounted to -3.80 million riyals compared to -60.99 million riyals for the same period of the previous year, with a decrease of 93.76%.