Riyadh – Mubasher: Saudi Paper Manufacturing Co's (SPMC) net losses fell 10.1% in the first quarter of 2017.

Net losses reached SAR 6.3 million in Q1-17 compared to SAR 7.05 million in the year-ago period, according to a bourse filing on Wednesday.

The company attributed the decline in losses to higher profit margins and operational profits as a result of lower marketing expenses and general and administrative ones.

Revenues levelled down 8% to SAR 128.5 million, down from SAR 140 million in the same period of the previous year.