Saudi Printing narrows 2020 losses to SAR 20.5 mln

23/03/2021 Argaam Exclusive

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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.

Financials (M)

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.

Current Quarter Comparison (M)

Compared With The

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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