Riyadh – Mubasher: The Saudi Printing and Packaging Company turned to profitability in the second quarter (Q2) of 2020, gaining SAR 1.49 million in net profits, against SAR 13.69 million worth of net losses in the same quarter in 2019.
The growth in the company's gross and operating profits during Q2 of the year was mainly helped by a slump in sales costs, and selling and marketing expenses, coupled with higher other income, according to a stock exchange statement on Thursday.
Revenue fell by 15.99% to stand at SAR 199.63 million in Q2-20, compared with SAR 237.62 million in Q2 of 2019.
