Financial Results : Saudi Printing cuts FY2019 losses to SAR 38.8 mln

Saudi Printing cuts FY2019 losses to SAR 38.8 mln

23/03/2020 Argaam Exclusive

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Saudi Printing and Packaging Co. (SPPC) narrowed net losses after Zakat and tax by 28.7% year-on-year (YoY) to SAR 38.8 million for fiscal year 2019, compared to SAR 54.4 million a year earlier.



Financials (M)

Item 2018 2019 Change‬
Revenues 1,018.49 924.34 (9.2 %)
Gross Income 123.91 131.06 5.8 %
Operating Income (2.89) 6.95 340.4 %
Net Income (54.37) (38.76) 28.7 %
Average Shares 60.00 60.00 -
EPS (Riyals) (0.91) (0.65) 28.7 %

The net loss reduction is backed by a decline in selling, marketing, general and administrative expenses, sales cost, and an increase in other revenues.

 

Full-year sales declined 9.2% YoY to SAR 924.34 million.

 

In Q4 2019, the company incurred a net loss of SAR 4.76 million compared to a net loss of SAR 20.81 million a year earlier.



Current Quarter Comparison (M)

Compared With The
Item Q4 2018 Q4 2019 Change‬
Revenues 283.47 232.17 (18.1 %)
Gross Income 30.51 34.62 13.5 %
Operating Income (3.48) 0.97 127.8 %
Net Income (20.81) (4.76) 77.1 %
Average Shares 60.00 60.00 -
EPS (Riyals) (0.35) (0.08) 77.1 %

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