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Saudi Printing’s losses drop 22% in 2018

Saudi Printing’s losses drop 22% in 2018
The company’s losses tumbled to SAR 20.8 million in Q4-18
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Riyadh – Mubasher: Saudi Printing and Packaging on Tuesday reported a 21.7% year-on-year loss decline during the full-year 2018.

The Saudi firm’s net losses fell to SAR 54.37 million last year, compared to SAR 69.45 million in 2017, according to initial data published on the Saudi Stock Exchange (Tadawul).

The retreat in net loss was attributed to the drop in administrative and general expenses, coupled with lower sales and marketing expenses.

During the fourth quarter of 2018, the company’s losses tumbled to SAR 20.8 million from SAR 36.26 million in the year-ago period.

As for Q3-18, the company reports a 158% loss hike to SAR 11.83 million, totalling SAR 33.56 million in the first nine months of last year.