Riyadh – Mubasher: Middle East Paper Company (MEPCO) recorded a jump of 290.69% in net profits after Zakat and tax to SAR 60.8 million in the first six months of 2021, from SAR 15.56 million in the same period last year.

Earnings per share stood at SAR 1.22 in the first half (H1) of 2021, compared to SAR 0.31 in H1-20, according to a bourse filing on Monday.

Sales increased annually by 22.7% to SAR 450.96 million in H1-21 from SAR 367.48 million in H1-20.

During the second quarter (Q2) of 2021, MEPCO’s profits surged by 276% to SAR 43.08 million from SAR 11.44 million in Q2-20.

Sales increased by 29% to SAR 250.45 million in Q2-21 from SAR 193.62 million in Q2-20.

On a quarterly basis, the net profits in Q2-21 were 143% higher than SAR 17.72 million in Q1-21. While the sales soared by 24.9% from SAR 200.51 million.