Filing and Packing Materials Manufacturing Co. (FIPCO) reported a net loss after zakat and tax of SAR 7.3 million for the first half of 2019, compared to a net profit of SAR 1.8 million a year earlier.
The loss was attributed to lower gross profit driven by lower government sales, higher production costs impacted by imposed labor fees, and higher general and administrative (G&A) expenses of subsidiary. Higher sales and marketing expenses was also of impact.
|Gross Income||16.33||11.84||(27.5 %)|
|Operating Income||3.30||(8.86)||(368.7 %)|
|Net Income||1.82||(7.29)||(499.9 %)|
|EPS (Riyal)||0.16||(0.63)||(499.9 %)|
The company turned to a net loss of SAR 4.8 million in Q2 2019 versus a net profit of SAR 0.7 million in the same quarter last year, due to lower gross profit driven by lower government sales, higher production costs, and higher G&A, sales and marketing expenses of subsidiary.
When compared to the previous quarter, Q2 losses widened by 92 percent from SAR 2.5 million loss in Q1.
|P/E Before Unusual Items (TTM)||NEG|
|Market Cap. (M)||311.65|
|Return on Average Assets||(4.14 %)|
|Return on Average Equity||(6.90 %)|