Filling & Packing Materials MFG. Co. (FIPCO) reported net profit after Zakat and tax of SAR 4.2 million for Q1 2020, versus net losses of SAR 2.2 million in year-earlier period, due to a 31.6% increase in sales, higher demand for FIPCO products, increased sales of subsidiary, FPC.
| Item | Q1 2019 | Q1 2020 | Change |
|---|---|---|---|
| Revenues | 36.71 | 48.33 | 31.6 % |
| Gross Income | 5.78 | 10.09 | 74.7 % |
| Operating Income | (2.98) | 5.77 | 293.5 % |
| Net Income | (2.22) | 4.18 | 288.5 % |
| Average Shares | 11.50 | 11.50 | - |
| EPS (Riyals) | (0.19) | 0.36 | 288.5 % |
| Item | Q4 2019 | Q1 2020 | Change |
|---|---|---|---|
| Revenues | 43.05 | 48.33 | 12.2 % |
| Gross Income | 2.34 | 10.09 | 332.2 % |
| Operating Income | (15.41) | 5.77 | 137.4 % |
| Net Income | (10.94) | 4.18 | 138.2 % |
| Average Shares | 11.50 | 11.50 | - |
| EPS (Riyals) | (0.95) | 0.36 | 138.2 % |
FIPCO also cited lower general and administrative expenses, decreased Zakat expenses and writing back loss provisions.
On a sequential basis, the company swung to profit in Q1, versus net losses of SAR 12.8 million in Q4 2019.
Argaam Investment Company has updated the Privacy Policy of its services and digital platforms. Know more about our Privacy Policy here.
Argaam uses cookies to personalize content, to provide social media features and analyze traffic, that we might also share with third parties. You consent to our cookies if you use this website
Comments {{getCommentCount()}}
Be the first to comment
رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}
{{comment.DisplayName}}
{{comment.ElapsedTime}}