Saudi Printing and Packaging Co. (SPPC) trimmed net losses after Zakat and tax to SAR 3.3 million in the first quarter of 2022, from SAR 13.6 million in the year-earlier period, backed by higher revenues, along with a decline in general and administrative expenses.
| Item | Q1 2021 | Q1 2022 | Change |
|---|---|---|---|
| Revenues | 173.44 | 236.42 | 36.3 % |
| Gross Income | 22.87 | 34.20 | 49.5 % |
| Operating Income | (5.17) | 0.06 | 101.2 % |
| Net Income | (13.56) | (3.28) | 75.8 % |
| Average Shares | 60.00 | 60.00 | - |
| EPS (Riyals) | (0.23) | (0.05) | 75.8 % |
| Item | Q4 2021 | Q1 2022 | Change |
|---|---|---|---|
| Revenues | 212.38 | 236.42 | 11.3 % |
| Gross Income | 25.62 | 34.20 | 33.5 % |
| Operating Income | (3.02) | 0.06 | 102.1 % |
| Net Income | (12.64) | (3.28) | 74.0 % |
| Average Shares | 60.00 | 60.00 | - |
| EPS (Riyals) | (0.21) | (0.05) | 74.0 % |
On a quarterly basis, net losses after Zakat and tax narrowed by 74% from SAR 12.64 million in Q4 2021 on better revenue.
Shareholders' equity, after minority interest, decreased by 7.3% to SAR 638.46 million in Q1 2022, compared to SAR 689.02 million a year earlier.
Accumulated losses stood at SAR 69.87 million, or 11.64% of the company’s capital, in Q1 2022.
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