Saudi Paper’s net profit soars to SAR 29.4 mln in 9M 2021

08/11/2021 Argaam Exclusive

View other reports

Saudi Paper Manufacturing Co.’s (SPM) net profit after Zakat and tax increased by more than three-fold to SAR 29.4 million for the first nine months of 2021, compared to SAR 8.9 million in year-earlier period.

This profit surge was driven by higher sales, lower financing expenses and decreased Zakat provisions.

Financials (M)

Item	9m 2020	9m 2021	Change‬
Revenues	412.84	441.61	7.0 %
Gross Income	120.26	120.16	(0.1 %)
Operating Income	48.30	46.53	(3.7 %)
Net Income	8.86	29.35	231.1 %
Average Shares	29.08	32.04	10.2 %
EPS (Riyals)	0.30	0.92	200.6 %

Q3 2021 net profit after Zakat and tax plunged 96% year-on-year (YoY) to SAR 0.15 million, on an increase in cost of sales due to higher global prices of pulp and raw materials.

The company also cited higher selling and marketing expenses, and an increase in provisions for impairment in trade receivables.

Current Quarter Comparison (M)

Compared With The

Item	Q3 2020	Q3 2021	Change‬
Revenues	124.29	141.86	14.1 %
Gross Income	38.82	31.63	(18.5 %)
Operating Income	15.77	6.23	(60.5 %)
Net Income	3.98	0.15	(96.2 %)
Average Shares	29.08	32.04	10.2 %
EPS (Riyals)	0.14	0.00	(96.6 %)

Item	Q2 2021	Q3 2021	Change‬
Revenues	141.26	141.86	0.4 %
Gross Income	43.41	31.63	(27.1 %)
Operating Income	20.81	6.23	(70.1 %)
Net Income	15.14	0.15	(99.0 %)
Average Shares	32.04	32.04	-
EPS (Riyals)	0.47	0.00	(99.0 %)

On a sequential basis, net profit after Zakat and tax plummeted by 99%.

Total shareholders’ equity (after deducting minority equity) more than doubled YoY to SAR 214.05 million for the nine-month period.

View more financial results

Kindly, you can view the full report by subscribing to the

The report contains the details of the financial statements, The most important financial indicators, Historical information, Charts, and Forecasts of experts.

Twitter

Facebook

Linked in

Comments {{getCommentCount()}}

Be the first to comment

رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}

Sorry: the validity period has ended to comment on this news

Opinions expressed in the comments section do not reflect the views of Argaam. Abusive comments of any kind will be removed. Political or religious commentary will not be tolerated.

×