Riyadh – Mubasher: Saudi Printing and Packaging Company reported net losses after Zakat and tax valued at SAR 57.35 million in the first nine months (9M) of 2023, an annual hike of 819.07% from SAR 6.24 million.
Revenues plummeted by 20.93% to SAR 607.08 million in 9M-23 from SAR 767.81 million in 9M-22, according to the initial financial results.
The loss per share hit SAR 0.96 as of 30 September 2023, higher year-on-year (YoY) than SAR 0.10.
Financials for Q3-23
In the third quarter (Q3) of 2023, the firm recorded a 467.62% leap in net loss after Zakat and tax to SAR 21.91 million, versus SAR 3.86 million a year earlier.
The revenues amounted to SAR 204.26 million during the July-September 2023 period, lower by 21.78% YoY than SAR 261.14 million.
On a quarterly basis, the net losses incurred in Q3-23 widened by 8.90% from SAR 20.12 million in Q2-23, while the revenues rose by 3.26% from SAR 191.89 million.
Accumulated Losses
The Saudi firm registered accumulated losses amounting to SAR 21.91 million, accounting for 3.70% of the SAR 600 million capital.
