Riyadh – Mubasher: Saudi Paper Manufacturing Company (SPMC) reported its interim financial results for the first half of 2019.

The company achieved profits of SAR 8.02 million in H1-19, against losses of SAR 5.59 million in H1-18, according to the company’s statement to the Saudi Stock Exchange (Tadawul) on Monday.

Total revenues inched down 0.29% to SAR 276.9 million by the end of June, compared to SAR 277.8 million in the same period of the previous year.

For the second quarter of 2019, SPMC’s net losses increased by 50% year-on-year to SAR 15.44 million.

Meanwhile, revenues of the Saudi firm jumped by 13.3% to SAR 121.8 million in Q2-19, from SAR 107.48 million in Q2-18.