Financial Results : Saudi Printing cuts Q1 2022 loss to SAR 3.3 mln

Saudi Printing cuts Q1 2022 loss to SAR 3.3 mln

16/05/2022 Argaam Exclusive

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Saudi Printing and Packaging Co. (SPPC) trimmed net losses after Zakat and tax to SAR 3.3 million in the first quarter of 2022, from SAR 13.6 million in the year-earlier period, backed by higher revenues, along with a decline in general and administrative expenses.



Current Quarter Comparison (M)

Compared With The
Item Q1 2021 Q1 2022 Change‬
Revenues 173.44 236.42 36.3 %
Gross Income 22.87 34.20 49.5 %
Operating Income (5.17) 0.06 101.2 %
Net Income (13.56) (3.28) 75.8 %
Average Shares 60.00 60.00 -
EPS (Riyals) (0.23) (0.05) 75.8 %

On a quarterly basis, net losses after Zakat and tax narrowed by 74% from SAR 12.64 million in Q4 2021 on better revenue.

 

Shareholders' equity, after minority interest, decreased by 7.3% to SAR 638.46 million in Q1 2022, compared to SAR 689.02 million a year earlier.

 

Accumulated losses stood at SAR 69.87 million, or 11.64% of the company’s capital, in Q1 2022.

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