Riyadh – Mubasher: Saudi Paper Manufacturing Company (Saudi SPMC) posted the interim financial results for the third quarter of 2019.

Net losses after zakat and tax retreated by 35% to SAR 24.22 million in Q3-19, compared to SAR 37.27 million in Q3-18, according to the company’s recent statement to the Saudi Stock Exchange (Tadawul).

Meanwhile, revenues increased by 6.5% to SAR 121.76 million during the three-month period ended in September, from SAR 114.26 million in the same period of the prior year.

For the first nine months of 2019, Saudi SPMC’s losses plunged by 69.18% to SAR 16.2 million, versus SAR 52.57 million in the same period a year ago.

Total revenues inched up by 1.7% year-on-year to SAR 398.74 million by the end of September.

Loss per share stood at SAR 0.67 in nine months, compared to SAR 2.16 in the corresponding period in the prior fiscal year 2018.