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Saudi Printing and Packaging Co. announces its Interim Financial results for the Period Ending on 2024-06-30 ( Six Months )
Element List Current Quarter Similar quarter for previous year %Change Previous Quarter % Change Sales/Revenue 174.45 191.89 -9.088 186.9 -6.661 Gross Profit (Loss) 9.74 22.22 -56.165 19.78 -50.758 Operational Profit (Loss) -53.54 -5.85 815.213 -9.8 446.326 Net profit (Loss) -71.12 -20.12 253.479 -22.62 214.412 Total Comprehensive Income -71.12 -20.12 253.479 -22.59 214.829 All figures are in (Millions) Saudi Arabia, Riyals Element List Current Period Similar period for previous year %Change Sales/Revenue 361.35 402.82 -10.294 Gross Profit (Loss) 29.53 50.82 -41.892 Operational Profit (Loss) -63.33 -7.47 747.791 Net profit (Loss) -93.74 -35.44 164.503 Total Comprehensive Income -93.7 -35.45 164.315 Total Shareholders Equity (after Deducting Minority Equity) 407.74 602.49 -32.324 Profit (Loss) per Share -1.56 -0.59 All figures are in (Millions) Saudi Arabia, Riyals Element List Amount Percentage of the capital (%) Profit (Losses) Resulting From The Change In Investment Propertie’s Fair Value - - Accumulated Losses 194.78 32.5 All figures are in (Millions) Saudi Arabia, Riyals Element List Explanation The reason of the increase (decrease) in the sales/ revenues during the current quarter compared to the same quarter of the last year is The main reason for the decrease in revenues during the current quarter compared to the same quarter of the previous year is due to the decrease in revenues in the packaging sector due to the decrease in raw material prices, which was reflected in selling prices. In addition, the printing sector witnessed a decrease in revenues due to the failure to obtain some planned projects. The reason of the increase (decrease) in the net profit during the current quarter compared to the same quarter of the last year is The main reason for the increase in net loss during the current quarter compared to the same quarter of the previous year is due to the impairment in the value of property, equipment and unproductive spare parts inventory in the printing sector by 30.46 million riyals, in addition to the decrease in revenues of the printing and packaging sectors. The reason of the increase (decrease) in the sales/ revenues during the current quarter compared to the previous one is The main reason for the decrease in revenues in the current quarter compared to the previous quarter is due to the decrease in revenues in the packaging sector due to the decrease in raw material prices, which was reflected in selling prices. In addition, the printing sector witnessed a decrease in revenues due to the failure to obtain some planned projects. The reason of the increase (decrease) in the net profit (loss) during the current quarter compared to the previous one is The main reason for the increase in net loss during the current quarter compared to the previous quarter is due to the impairment in the value of property, equipment and unproductive spare parts inventory in the printing sector by 30.46 million riyals, in addition to the decrease in revenues of the printing and packaging sectors. The reason of the increase (decrease) in the sales/ revenues during the current period compared to the same period of the last year is The main reason for the decrease in revenues during the current period compared to the same period of the previous year is due to the decrease in revenues in the packaging sector due to the decrease in raw material prices, which was reflected in selling prices. In addition, the printing sector witnessed a decrease in revenues due to the failure to obtain some planned projects. The reason of the increase (decrease) in the net profit during the current period compared to the same period of the last year is The main reason for the increase in net loss during the current period compared to the same period of the previous year is due to the impairment in the value of property, equipment and unproductive spare parts inventory in the printing sector by 30.46 million riyals, in addition to the decrease in revenues of the printing and packaging sectors. Statement of the type of external auditor's report Unmodified conclusion Comment mentioned in the external auditor’s report, mentioned in any of the following paragraphs (other matter, conservation, notice, disclaimer of opinion, or adverse opinion) NA Reclassification of Comparison Items Certain figures for the comparison period have been reclassified to conform with the presentation for the current period. Additional Information • Total revenues during the current quarter amounted to 174.4 million riyals compared to 191.9 million riyals for the same quarter of the previous year, a decrease of 9.09%, and compared to 186.9 million riyals in the previous quarter, a decrease of 6.66%.• Total shareholders' equity (after excluding minority rights) at the end of the current quarter amounted to 407.74 million riyals compared to 602.49 million riyals for the same quarter of the previous year, a decrease of 32.32%, and compared to 478.86 million riyals at the end of the previous quarter, a decrease of 14.85%.• Accumulated losses amounted to 194.78 million riyals, representing 32.46% of the capital.
