SPM Q3 Profits Fall 8.2% to SAR 20.5 Million

The Saudi Paper Manufacturing Company (SPM) revealed on Monday a decline by 8.2% in net profit during the third quarter to 20.5 million riyals, compared to 22.4 million riyals in the same quarter last year, following the announcement today of the preliminary financial results for the duration ending Sep. 30, 2024 (nine months).

The operational profit decreased by 7.9% to 29.1 million riyals in the third quarter, compared to 31.6 million riyals in the same quarter last year.

The company’s net profit during the 9-month duration increased by 58.9% to 82.8 million riyals, compared to 52.1 million riyals in the same duration last year.

The profits per share in the current duration reached 2.24 riyals, compared to 1.41 riyals in the same duration last year.