Saudi Printing’s losses down 75.5% in Q1-22 interim results

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Riyadh – Saudi Printing and Packaging Company has suffered net losses after Zakat and tax of SAR 3.28 million in the first quarter (Q1) of 2022, lower by 75.79% than SAR 13.55 million in Q1-21.

Revenues stood at SAR 236.42 million in Q1-22, an annual growth of 36.31% from SAR 173.44 million, according to the initial financial results on Monday.

Meanwhile, the loss per share settled at SAR 0.05 in the January-March 2022 period, versus SAR 0.22 during the same period a year earlier.

On a quarterly basis, the revenues in Q1-22 surged by 11.31% from SAR 212.38 million in Q4-21, while the net losses dropped by 74.05% from SAR 12.64 million.

Saudi Printing noted that the accumulated losses have reached SAR 69.87 million, accounting for 11.64% of the SAR 600 million capital, at the end of Q1-22.

In 2021, the net losses after Zakat and tax of Saudi Printing deepened by 188.70% to SAR 59.30 million, compared to SAR 20.54 million in 2020.