Saudi Printing and Packaging Co. (SPPC) narrowed net loss after Zakat and tax to SAR 20.5 million for 2020, compared to SAR 38.8 million a year earlier.
| Item | 2019 | 2020 | Change |
|---|---|---|---|
| Revenues | 924.34 | 767.69 | (16.9 %) |
| Gross Income | 131.06 | 127.42 | (2.8 %) |
| Operating Income | 6.95 | 13.96 | 100.8 % |
| Net Income | (38.76) | (20.55) | 47.0 % |
| Average Shares | 60.00 | 60.00 | - |
| EPS (Riyals) | (0.65) | (0.34) | 47.0 % |
The company attributed the net loss reduction to lower financing expenses.
Gross profit declined due to lower sales, while operating profit rose due to the reduction in selling & marketing expenses and general & administrative expenses.
In Q4 2020, the company widened its net loss after Zakat and tax to SAR 8.9 million from SAR 4.7 million in the same period a year ago.
| Item | Q4 2019 | Q4 2020 | Change |
|---|---|---|---|
| Revenues | 232.17 | 169.34 | (27.1 %) |
| Gross Income | 34.62 | 25.83 | (25.4 %) |
| Operating Income | 0.97 | (0.11) | (111.7 %) |
| Net Income | (4.76) | (8.95) | (88.0 %) |
| Average Shares | 60.00 | 60.00 | - |
| EPS (Riyals) | (0.08) | (0.15) | (88.0 %) |
| Item | Q3 2020 | Q4 2020 | Change |
|---|---|---|---|
| Revenues | 204.45 | 169.34 | (17.2 %) |
| Gross Income | 38.23 | 25.83 | (32.5 %) |
| Operating Income | 8.54 | (0.11) | (101.3 %) |
| Net Income | 1.82 | (8.95) | (590.6 %) |
| Average Shares | 60.00 | 60.00 | - |
| EPS (Riyals) | 0.03 | (0.15) | (590.6 %) |
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