Saudi Paper Manufacturing Co.’s (SPM) net profit after Zakat and tax jumped 38% to SAR 40.6 million for the first nine months of 2022, compared to SAR 29.4 million in year-earlier period.
| Item | 9m 2021 | 9m 2022 | Change |
|---|---|---|---|
| Revenues | 441.61 | 502.62 | 13.8 % |
| Gross Income | 120.16 | 128.28 | 6.8 % |
| Operating Income | 46.53 | 38.32 | (17.6 %) |
| Net Income | 29.35 | 40.57 | 38.2 % |
| Average Shares | 32.04 | 32.04 | - |
| EPS (Riyals) | 0.92 | 1.27 | 38.2 % |
The profit growth was driven by a significant increase in sales and rise in market share as well as strong demand for products.
Q3 2022 net profit soared to SAR 6.2 million, compared with SAR 0.15 million a year before, buoyed mainly by strong sales and increase in the company's market share.
On a sequential basis, Q3 2022 net profit dropped 70.5% from SAR 21 million.
| Item | Q3 2021 | Q3 2022 | Change |
|---|---|---|---|
| Revenues | 141.86 | 161.64 | 13.9 % |
| Gross Income | 31.63 | 38.68 | 22.3 % |
| Operating Income | 6.23 | 12.82 | 105.6 % |
| Net Income | 0.15 | 6.21 | 4052.2 % |
| Average Shares | 32.04 | 32.04 | - |
| EPS (Riyals) | 0.00 | 0.19 | 4052.2 % |
| Item | Q2 2022 | Q3 2022 | Change |
|---|---|---|---|
| Revenues | 146.29 | 161.64 | 10.5 % |
| Gross Income | 41.10 | 38.68 | (5.9 %) |
| Operating Income | 7.01 | 12.82 | 82.9 % |
| Net Income | 21.06 | 6.21 | (70.5 %) |
| Average Shares | 32.04 | 32.04 | - |
| EPS (Riyals) | 0.66 | 0.19 | (70.5 %) |
Total shareholders’ equity, after deducting minority equity, reached SAR 253.39 million at the end of 9M 2022, compared with SAR 214.05 million a year before.
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