Saudi Printing and Packaging Co. announces its Annual Financial Results for the Period Ending on 2019-12-31
| Element List | Current Year | Previous Year | %Change | ||
|---|---|---|---|---|---|
| Sales/Revenue | 924.34 | 1,018.49 | -9.244 | ||
| Gross Profit (Loss) | 131.06 | 123.91 | 5.77 | ||
| Operational Profit (Loss) | 6.95 | -2.89 | - | ||
| Net Profit (Loss) after Zakat and Tax | -38.76 | -54.37 | -28.71 | ||
| Total Comprehensive Income | -31.21 | -45.36 | -31.194 | ||
| Total Share Holders Equity (after Deducting Minority Equity) | 723.9 | 755.11 | -4.133 | ||
| Profit (Loss) per Share | -0.65 | -0.91 | |||
| All figures are in (Millions) Saudi Arabia, Riyals | |||||
| Element List | Explanation |
|---|---|
| Increase (Decrease) in Net Profit for Current Year Compared to Last Year is Attributed to | 1-The main reason for the increase in gross profit is the decrease in cost of sale.
2-The main reason for the increase in operating profit is the decrease in selling and marketing expenses, and general and administrative expenses. 3-The main reason for the decrease in the net loss is due to the previous reasons in addition to other revenues. |
| Basis of the External Auditor's Opinion | Unmodified opinion |
| Reclassification of Comparison Items | Certain figures for the comparative period have been reclassified to conform with the presentation for the current period. |
| Additional Information | 1- The Sales in 2019 is 924.3 million riyals compared to 1,018.5 million riyals for the same period in the previous year2018,
which represents a decrease of -9.24% 2- The shareholders ’equity -there are no minority rights- in 2019 is 723.9 million riyals, compared to 755.11 million riyals for the same period in the previous year2018, which represents a decrease of -4.13%. 3- The retained earnings in 2019 is 15.06 million riyals, and it represent 2.08% of the capital. 4- The comprehensive loss during 2019 is -31.21 million riyals, compared to -45.36 million riyals for the same period in the previous year 2018, which represents a decrease of -31.19%. • The company has implemented the IFRS 16 as of January 1, 2019. |
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