Saudi Printing cuts 9M 2022 net loss to SAR 6.2 mln; Q3 at SAR 3.9 mln

01/11/2022 Argaam Exclusive

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Saudi Printing and Packaging Co. (SPPC) reduced net losses after Zakat and tax by 86.6% to SAR 6.2 million in the first nine months of 2022, from SAR 46.7 million a year earlier.

Financials (M)

Item	9m 2021	9m 2022	Change‬
Revenues	571.26	767.81	34.4 %
Gross Income	63.35	110.33	74.1 %
Operating Income	(20.17)	14.00	169.4 %
Net Income	(46.66)	(6.24)	86.6 %
Average Shares	60.00	60.00	-
EPS (Riyals)	(0.78)	(0.10)	86.6 %

In Q3 2022, net losses after Zakat and tax narrowed to SAR 3.9 million, from SAR 17.75 million.

Current Quarter Comparison (M)

Compared With The

Item	Q3 2021	Q3 2022	Change‬
Revenues	203.61	261.15	28.3 %
Gross Income	19.14	35.64	86.2 %
Operating Income	(8.74)	3.70	142.3 %
Net Income	(17.75)	(3.86)	78.2 %
Average Shares	60.00	60.00	-
EPS (Riyals)	(0.30)	(0.06)	78.2 %

Item	Q2 2022	Q3 2022	Change‬
Revenues	270.24	261.15	(3.4 %)
Gross Income	40.49	35.64	(12.0 %)
Operating Income	10.23	3.70	(63.9 %)
Net Income	0.90	(3.86)	(529.4 %)
Average Shares	60.00	60.00	-
EPS (Riyals)	0.02	(0.06)	(529.4 %)

The company turned to losses from a net profit of SAR 900,000 in Q2 2022.

Shareholders’ equity, no minority interest, dropped to SAR 635.5 million as of Sept. 30, 2022, from SAR 655.5 million a year earlier.

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