Filling & Packing Materials MFG. Co. (FIPCO) swung to a net loss after zakat and tax of SAR 3.1 million for fiscal year 2018, compared to a net profit of SAR 5.2 million a year earlier, due to higher general and administrative expenses (G&As) as the company incurred pre-operating expenses amounting to SAR 11.5 million from subsidiary FPC.
The company allocated higher provisions for doubtful debts at SAR 1.8 million in 2018 in line with the IFRS 9.
FIPCO also settled the consolidated costs of governmental fees last year and saw a decline in investment income and other income of SAR 2.7 million as a result of non-recurring investments carried out by FIPCO during fiscal year 2017.
|Gross Income||27.11||28.99||6.9 %|
|Operating Income||6.28||(0.10)||(101.6 %)|
|Net Income||5.16||(3.14)||(160.9 %)|
|EPS (Riyal)||0.45||(0.27)||(160.9 %)|
|Period||Revenues||Gross Income||Net Income||EPS (Riyal)||Earnings Growth|
|2018 - Q4||40.06||5.01||(5.85)||(0.51)||(695.32 %)|
|2018 - Q3||43.90||7.80||0.81||0.07||58.12 %|
|2018 - Q2||43.83||8.21||0.74||0.06||53.75 %|
|2018 - Q1||35.75||8.05||1.13||0.10||(64.51 %)|
|P/E Before Unusual Items (TTM)||NEG|
|Market Cap. (M)||366.28|
|Return on Average Assets||(2.45 %)|
|Return on Average Equity||(3.75 %)|