Filing and Packing Materials Manufacturing Co. — Earnings Release 2016

Jan 18, 2017

Filing and Packing Materials Manufacturing Co. announces its annual financial results for the year ending on 31-12-2016 (Twelve Months)

2180 · 18/01/2017 15:59:39 · Announcement #45144 · View on Saudi Exchange

Filing and Packing Materials Manufacturing Co. announces its annual financial results for the year ending on 31-12-2016 (Twelve Months)

Element	Current quarter	Similar quarter for previous year	% Change current	Previous quarter	% Change previous
Net profit (loss)	3.32	0.42	690.48	0.15	2,113.33
Gross profit (loss)	7.31	7.19	1.67	4.44	64.64
Operational profit (loss)	2.59	2.7	-	1.26	105.56
All figures are in (Millions) Saudi Arabia, Riyals

Element	Current period	Similar period for previous year	% Change
Net profit (loss)	11.89	13.15	-
Gross profit (loss)	30.54	35.17	-
Operational profit (loss)	13.13	17.46	-
Earning or loss per share, Riyals	1.03	1.14	-
All figures are in (Millions) Saudi Arabia, Riyals

Element	EXPLAINATION
Reasons of increase (decrease) for quarter compared with same quarter last year	The net profit for this quarter is higher compared to same quarter of last year due to increase in sales and other income as well, in addition to making provision for Inventory impairment During the 4th quarter of 2015.
Reasons of increase (decrease) for period compared with same period last year	The reasons for declined net profit for the year 2016 compared to the previous year 2015 lie behind decrease in the gross profit resulted from decrease in sales volume and average selling prices to maintain the company market share, in addition to increase in Zakat provision as well as increased energy prices and some related governmental service prices.
Reasons of increase (decrease) for quarter compared with previous quarter	The increased net profit for this quarter compared to the previous quarter of the same year is due to increase in sales as a result of higher demand for our products as well as the increase of other income.
Reclassifications in quarterly financial results	Certain comparative figures have been reclassified to cope up with the current period's presentation.
Other notes	The total revenue of current quarter is SR 44.9 million whereas the total revenue of the same quarter of last year is SR 41.1 million which is an increase of 9.17 %, while The total revenue for the current year 2016 is SR 165.1 million, compared to the last year 2015 which was SR 191.2 million, with a decrease of 15.85 %. Shareholders Equity (with no minority interests) at the end of current year is SR 197.4 million, whereas it was SR 185.5 million by end of last year, with an increase of 6.41 %.

The Capital Market Authority and Saudi Exchange take no responsibility for the contents of this disclosure, make no representations as to its accuracy or completeness, and expressly disclaim any liability whatsoever for any loss arising from, or incurred in reliance upon, any part of this disclosure, and the issuer accepts full responsibility for the accuracy of the information contained in it and confirms, having made all reasonable enquiries, that to the best of their knowledge and belief, there are no other facts or information the omission of which would make the disclosure misleading, incomplete or inaccurate.