Filing and Packing Materials Manufacturing Co. (FIPCO) reported a net loss after Zakat and tax of SAR 3 million for 2020, compared to a loss of SAR 20.3 million in 2019.
The decrease in net loss was attributed to higher sales from subsidiary firm, FPC Industries Co., and lower production expenses based on decreased governmental fees, resulting from reduction of the labor fees for the industrial sector.
Selling and marketing expenses and general and administrative expenses were lower during the period, in addition to reversing a credit losses provision no longer required.
| Item | 2019 | 2020 | Change |
|---|---|---|---|
| Revenues | 164.14 | 181.51 | 10.6 % |
| Gross Income | 20.64 | 29.31 | 42.0 % |
| Operating Income | (22.29) | 1.70 | 107.6 % |
| Net Income | (20.26) | (2.98) | 85.3 % |
| Average Shares | 11.50 | 11.50 | - |
| EPS (Riyals) | (1.76) | (0.26) | 85.3 % |
The company turned to a net profit of SAR 878,000 in Q4 2020, from a loss of SAR 10.98 million a year earlier.
| Item | Q4 2019 | Q4 2020 | Change |
|---|---|---|---|
| Revenues | 43.05 | 46.51 | 8.0 % |
| Gross Income | 2.34 | 8.60 | 268.4 % |
| Operating Income | (15.41) | (2.54) | 83.5 % |
| Net Income | (10.94) | (0.85) | 92.2 % |
| Average Shares | 11.50 | 11.50 | - |
| EPS (Riyals) | (0.95) | (0.07) | 92.2 % |
| Item | Q3 2020 | Q4 2020 | Change |
|---|---|---|---|
| Revenues | 41.47 | 46.51 | 12.2 % |
| Gross Income | 5.51 | 8.60 | 56.3 % |
| Operating Income | 0.37 | (2.54) | (790.8 %) |
| Net Income | (2.95) | (0.85) | 71.0 % |
| Average Shares | 11.50 | 11.50 | - |
| EPS (Riyals) | (0.26) | (0.07) | 71.0 % |
Argaam Investment Company has updated the Privacy Policy of its services and digital platforms. Know more about our Privacy Policy here.
Argaam uses cookies to personalize content, to provide social media features and analyze traffic, that we might also share with third parties. You consent to our cookies if you use this website
Comments {{getCommentCount()}}
Be the first to comment
رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}
{{comment.DisplayName}}
{{comment.ElapsedTime}}