Filling and Packing Materials Manufacturing Co. (FIPCO) deepened its net loss after Zakat and tax to SAR 9.1 million in 2021, from SAR 3 million a year earlier.
The loss widened on a slight decline in gross profit, amid higher raw material prices and production costs.
Selling and distribution expenses were higher, due to increased export sales and shipping rates globally as well as the opening of new retail stores by FIPCO’s subsidiary, FPC Industrial Co. FIPCO also cited a rise in the expected credit loss provision for FPC in accordance with IFRS 9, and a drop in other income.
| Item | 2020 | 2021 | Change |
|---|---|---|---|
| Revenues | 181.51 | 222.59 | 22.6 % |
| Gross Income | 29.31 | 28.99 | (1.1 %) |
| Operating Income | 1.70 | (5.18) | (405.8 %) |
| Net Income | (2.98) | (9.06) | (204.5 %) |
| Average Shares | 11.50 | 11.50 | - |
| EPS (Riyals) | (0.26) | (0.79) | (204.5 %) |
In Q4 2021, FIPCO swung to a net profit of SAR 1.1 million, against a net loss of SAR 850,000.
In the previous quarter, FIPCO incurred a net loss of SAR 3.4 million.
| Item | Q4 2020 | Q4 2021 | Change |
|---|---|---|---|
| Revenues | 46.51 | 60.32 | 29.7 % |
| Gross Income | 8.60 | 9.26 | 7.6 % |
| Operating Income | (2.54) | 0.21 | 108.1 % |
| Net Income | (0.85) | 1.12 | 231.4 % |
| Average Shares | 11.50 | 11.50 | - |
| EPS (Riyals) | (0.07) | 0.10 | 231.4 % |
| Item | Q3 2021 | Q4 2021 | Change |
|---|---|---|---|
| Revenues | 54.93 | 60.32 | 9.8 % |
| Gross Income | 5.94 | 9.26 | 55.8 % |
| Operating Income | (1.60) | 0.21 | 113.0 % |
| Net Income | (3.44) | 1.12 | 132.6 % |
| Average Shares | 11.50 | 11.50 | - |
| EPS (Riyals) | (0.30) | 0.10 | 132.6 % |
Shareholders’ equity, after minority interest, decreased to SAR 120.1 million in 2021, from SAR 128.7 million a year earlier.
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}}