Saudi Paper’s 2019 EPS based on weighted average shares

01/03/2020 Argaam

 

Saudi Paper Manufacturing Co. (SPM) clarified in a bourse statement the calculation method of its earnings per share (EPS) in 2019.

 

Based on the extraordinary general assembly meeting in November 2019 for reducing SPM’s capital by 62% to SAR 92 million through canceling 15.3 million shares, the 2019 EPS was calculated on a weighted average of 9.2 million shares.

 

Meanwhile, the 2018 loss per share was based on a weighted average of 9.2 million shares in 2019.

 

No financial impact is expected from this change, the statement added.

 

SPM cut its losses to SAR 27.5 million in 2019 from SAR 111.2 million a year earlier.

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