Riyadh – Mubasher: Saudi Printing and Packaging reported a 23.4% year-on-year increase in losses during the first quarter of 2019.

Net losses amounted to SAR 23 million in Q1-19, compared to SAR 18.66 million during Q1-18, according to a statement to the Saudi Stock Exchange (Tadawul).

The firm attributed the rise in Q1-19 losses to the price hikes of raw materials, combined with higher financing costs.

Saudi Printing and Packaging’s losses tumbled 42.6% to SAR 20.8 million in Q4-18 from SAR 36.26 million during Q4-17.