Riyadh – Mubasher: Saudi Printing and Packaging on Sunday said that its wholly-owned subsidiary Al Madina Printing and Publishing has approved to sign a SAR 37.5 million contract with the Ministry of Education.

Under the contract, Al Madina Printing and Publishing is set to print and supply school curricula over the coming period, according to a statement to the Saudi Stock Exchange (Tadawul).

The parent firm further indicated that the agreement’s financial impact is expected to appear in the second, third, and fourth quarters of 2019.

The contract is expected to be inked on 10 March.

On Thursday, 7 March, Saudi Printing and Packaging’s unit signed two deals with a combined value of SAR 63 million with the Ministry of Education.

The Tadawul-listed printing and packaging services provider last reported a 158.3% rise in losses after calculating Zakat and Tax during Q4-18, logging SAR 11.83 million, from SAR 4.58 million in Q3-17.

Saudi Printing and Packaging’s stock levelled up 0.37% to finish Sunday’s trading activities at SAR 16.26.