Financial Results : Saudi Printing trims loss by 63.4% to SAR 13.4 mln in H1 2020

Saudi Printing trims loss by 63.4% to SAR 13.4 mln in H1 2020

13/08/2020 Argaam Exclusive

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Saudi Printing and Packaging Co. (SPPC) narrowed net loss after Zakat and tax by 63.4% year-on-year (YoY) to SAR 13.4 million for the first half of 2020, driven by lower cost of sales, and decreased cost of finance.



Financials (M)

Item 6m 2019 6m 2020 Change‬
Revenues 439.66 393.90 (10.4 %)
Gross Income 50.38 64.29 27.6 %
Operating Income (9.19) 5.53 160.2 %
Net Income (36.71) (13.42) 63.4 %
Average Shares 60.00 60.00 -
Earnings Per Share before unusual items (Riyals) (0.61) (0.22) 63.4 %
EPS (Riyal) (0.61) (0.22) 63.4 %

SPPC's net profit after Zakat and tax for the second quarter stood at SAR 1.5 million, versus net loss of SAR 13.69 million in year-earlier period, due to lower cost of sales, and lower marketing expenses.

 

On a quarter-on-quarter basis, SPPC swung to profit in Q2 against SAR 14.9 million loss in Q1 2020.



Current Quarter Comparison (M)

Compared With The
Item Q2 2019 Q2 2020 Change‬
Revenues 237.62 199.63 (16.0 %)
Gross Income 29.23 37.40 28.0 %
Operating Income (0.44) 8.58 2041.0 %
Net Income (13.69) 1.49 110.9 %
Average Shares 60.00 60.00 -
Earnings Per Share before unusual items (Riyal) (0.23) 0.02 110.9 %
EPS (Riyal) (0.23) 0.02 110.9 %

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