Saudi Printing and Packaging Co. (SPPC) narrowed net losses after Zakat and tax by 28.7% year-on-year (YoY) to SAR 38.8 million for fiscal year 2019, compared to SAR 54.4 million a year earlier.
| Item | 2018 | 2019 | Change |
|---|---|---|---|
| Revenues | 1,018.49 | 924.34 | (9.2 %) |
| Gross Income | 123.91 | 131.06 | 5.8 % |
| Operating Income | (2.89) | 6.95 | 340.4 % |
| Net Income | (54.37) | (38.76) | 28.7 % |
| Average Shares | 60.00 | 60.00 | - |
| EPS (Riyals) | (0.91) | (0.65) | 28.7 % |
The net loss reduction is backed by a decline in selling, marketing, general and administrative expenses, sales cost, and an increase in other revenues.
Full-year sales declined 9.2% YoY to SAR 924.34 million.
In Q4 2019, the company incurred a net loss of SAR 4.76 million compared to a net loss of SAR 20.81 million a year earlier.
| Item | Q4 2018 | Q4 2019 | Change |
|---|---|---|---|
| Revenues | 283.47 | 232.17 | (18.1 %) |
| Gross Income | 30.51 | 34.62 | 13.5 % |
| Operating Income | (3.48) | 0.97 | 127.8 % |
| Net Income | (20.81) | (4.76) | 77.1 % |
| Average Shares | 60.00 | 60.00 | - |
| EPS (Riyals) | (0.35) | (0.08) | 77.1 % |
| Item | Q3 2019 | Q4 2019 | Change |
|---|---|---|---|
| Revenues | 252.51 | 232.17 | (8.1 %) |
| Gross Income | 46.06 | 34.62 | (24.8 %) |
| Operating Income | 15.18 | 0.97 | (93.6 %) |
| Net Income | 2.71 | (4.76) | (275.7 %) |
| Average Shares | 60.00 | 60.00 | - |
| EPS (Riyals) | 0.05 | (0.08) | (275.7 %) |
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