Riyadh – Mubasher: Saudi Printing and Packaging Company reported an annual increase of 115% in net losses after Zakat and tax to SAR 28.9 million during the first half (H1) of 2021 from SAR 13.42 million in H1-20.
The loss per share rose to SAR 0.49 in H1-21 from SAR 0.23 in H1-20, according to the financial results on Thursday.
Sales decreased by 6.6% to SAR 367.65 million in the January-June 2021 period from SAR 393.9 million in the same six months last year.
At the end of June 2021, Saudi Printing’s accumulated losses have reached SAR 35.06 million, representing 5.84% of the SAR 600 million capital.
In the second quarter (Q2) of 2021, the company turned to losses worth SAR 15.35 million against net profits worth SAR 1.49 million in Q2-20.
Sales declined by 2.7% annually to SAR 194.21 million in Q2-21 from SAR 199.63 million in Q2-20.
On a quarterly basis, the net losses in Q2-21 were 13.2% higher than SAR 13.56 million in Q1-21, while the revenues grew by 11.9% from SAR 173.44 million.
