Financial Results : Saudi Printing widens losses to SAR 28.9 mln in H1 2021

Saudi Printing widens losses to SAR 28.9 mln in H1 2021

12/08/2021 Argaam Exclusive

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Saudi Printing and Packaging Co. (SPPC) widened net loss after Zakat and tax to SAR 28.9 million in H1 2021, compared to a loss of SAR 13.4 million in H1 2020, due to lower sales and higher cost of raw materials.



Financials (M)

Item 6m 2020 6m 2021 Change‬
Revenues 393.90 367.65 (6.7 %)
Gross Income 64.29 44.21 (31.2 %)
Operating Income 5.53 (11.43) (306.6 %)
Net Income (13.42) (28.91) (115.4 %)
Average Shares 60.00 60.00 -
EPS (Riyals) (0.22) (0.48) (115.4 %)

In Q2 2021, SPPC swung to net loss after Zakat and tax of SAR 15.4 million, compared to a profit of SAR 1.5 million in Q2 2020, due to lower gross profit.

 

On a sequential basis, Q2 net loss narrowed from SAR 13.6 million.



Current Quarter Comparison (M)

Compared With The
Item Q2 2020 Q2 2021 Change‬
Revenues 199.63 194.21 (2.7 %)
Gross Income 37.40 21.34 (42.9 %)
Operating Income 8.58 (6.26) (172.9 %)
Net Income 1.49 (15.35) (1128.3 %)
Average Shares 60.00 60.00 -
EPS (Riyals) 0.02 (0.26) (1128.3 %)

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