Filing and Packing Materials Manufacturing Co. (FIPCO) reported a net loss after zakat and tax of SAR 9.3 million for the first nine months of 2019, compared to a net profit of SAR 2.6 million a year earlier.
The loss was attributed to lower gross profit based on the company's sales mix, higher production costs and higher selling, general and administrative (SG&A) expenses of subsidiary.
|Gross Income||24.20||18.30||(24.4 %)|
|Operating Income||4.36||(13.08)||(399.7 %)|
|Net Income||2.59||(9.32)||(460.0 %)|
|EPS (Riyal)||0.23||(0.81)||(460.0 %)|
The company turned to a net loss after zakat and tax of SAR 2.7 million in Q3 2019 versus a net profit of SAR 0.8 million in the same quarter last year, due to lower gross profit, higher SG&A of the company's subsidiary.
When compared to the previous quarter, Q3 losses narrowed by 43.7 percent backed by higher gross profit, other income and better sales.
|P/E Before Unusual Items (TTM)||NEG|
|Market Cap. (M)||346.15|
|Return on Average Assets||(5.21 %)|
|Return on Average Equity||(8.90 %)|