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Saudi Printings suffers SAR 37m losses in H1

Saudi Printings suffers SAR 37m losses in H1
Net losses surged by 345.9% to SAR 13.69 million in Q2-19
SPPC
4270
11.35% 15.50 1.58

Riyadh – Mubasher: Saudi Printing and Packaging Company reported its initial financial statements for the second quarter of 2019.

Net losses surged by 345.9% to SAR 13.69 million in Q2-19, compared to SAR 3.07 million in Q2-18, according to the company’s filing to the Saudi Stock Exchange (Tadawul) on Thursday.

Revenues of the Saudi firm plunged by 7.2% to SAR 237.62 million during the three-month period ended June, from SAR 256.11 million in the same period of the previous year.

For the first six months of 2019, net losses of Saudi Printing jumped by 69% to SAR 36.71 million, versus SAR 21.72 million in H1-18.

Total revenues decreased by 4.14% to SAR 439.66 million during the six-month period between January and June, from SAR 458.68 million in the same period a year ago.

Moreover, the loss per share stood at SAR -0.61 by the end of June.