KSA: SPPC Announce Preliminary Financial Results
The Saudi Printing and Packaging Company announced the preliminary financial results for the period ending on 06-30-2021 (six months), where the company recorded a net loss after zakat and tax of 28 million riyals, compared a net loss during the same period of the previous year, which amounted to 13 million riyals. An increase of 115%.
The company says the main reason for underperformance is decrease in sales and the higher cost of raw materials.
Saudi Printing & Packaging Company is a Saudi shareholding company focusing on both Publishing and packaging sectors The company features developed newspapers printing centers in Riyadh, Jeddah and Dammam. The company prints a number of major newspapers such as Alsharq Al-Awsat, Al-Eqtisadiah, Al-Riyadiah, Arab News, Al-Watan and others, in addition to serial commercial publications. Additionally, the company works in the field of packaging and plastic industry and has factories in Sharjah, Abu Dhabi, Riyadh, Jeddah, Al-Madinah Al-Munawwarah.