Saudi Printing and Packaging Co. (SPPC) narrowed net loss after Zakat and tax by 63.4% year-on-year (YoY) to SAR 13.4 million for the first half of 2020, driven by lower cost of sales, and decreased cost of finance.
| Item | 6m 2019 | 6m 2020 | Change |
|---|---|---|---|
| Revenues | 439.66 | 393.90 | (10.4 %) |
| Gross Income | 50.38 | 64.29 | 27.6 % |
| Operating Income | (9.19) | 5.53 | 160.2 % |
| Net Income | (36.71) | (13.42) | 63.4 % |
| Average Shares | 60.00 | 60.00 | - |
| EPS (Riyals) | (0.61) | (0.22) | 63.4 % |
SPPC's net profit after Zakat and tax for the second quarter stood at SAR 1.5 million, versus net loss of SAR 13.69 million in year-earlier period, due to lower cost of sales, and lower marketing expenses.
On a quarter-on-quarter basis, SPPC swung to profit in Q2 against SAR 14.9 million loss in Q1 2020.
| Item | Q2 2019 | Q2 2020 | Change |
|---|---|---|---|
| Revenues | 237.62 | 199.63 | (16.0 %) |
| Gross Income | 29.23 | 37.40 | 28.0 % |
| Operating Income | (0.44) | 8.58 | 2041.0 % |
| Net Income | (13.69) | 1.49 | 110.9 % |
| Average Shares | 60.00 | 60.00 | - |
| EPS (Riyals) | (0.23) | 0.02 | 110.9 % |
| Item | Q1 2020 | Q2 2020 | Change |
|---|---|---|---|
| Revenues | 194.27 | 199.63 | 2.8 % |
| Gross Income | 26.89 | 37.40 | 39.1 % |
| Operating Income | (3.05) | 8.58 | 381.5 % |
| Net Income | (14.91) | 1.49 | 110.0 % |
| Average Shares | 60.00 | 60.00 | - |
| EPS (Riyals) | (0.25) | 0.02 | 110.0 % |
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