Riyadh – Mubasher: Saudi Printing and Packaging on Sunday posted an 18.4% increase in its net losses in the first quarter of 2018, compared to the year-ago period.

The firm’s net losses hit SAR 18.7 million in Q1-18, up from SAR 15.8 million in the same quarter a year earlier, according to a bourse filing.

The Saudi Printing Company attributed the increase in its year-on-year losses to a decrease in sales, as well as a decline in profit margins of some products.

Quarter-on-quarter, Saudi Printing’s net losses were trimmed by 48.5% to SAR 18.7 million in Q1-18, from SAR 36.3 million during Q4-17.

Sales retreated 17.3% to SAR 202.57 million in Q1-18, compared to SAR 244.81 million during the same period in the prior year.

The stock grew 5.7%, closing Thursday at SAR 20.26.