Saudi Printing and Packaging Co. — Earnings Release 2015

Feb 21, 2016

Saudi Printing and Packaging Co. announces the annual financial results for the period ending on 31-12-2015

4270 · 21/02/2016 08:01:31 · Announcement #41249 · View on Saudi Exchange

Saudi Printing and Packaging Co. announces the annual financial results for the period ending on 31-12-2015

Element	Current year	Previous year	% Change
Net profit (loss)	21.6	45.4	-52.42
Earning or loss per share, Riyals	0.36	0.76	-
Gross profit (loss)	232.8	244.4	-4.75
Operational profit (loss)	36.4	67.4	-45.99

*All figures are in (Millions) Saudi Arabia, Riyals

Element	EXPLAINATION
Reasons of annual financial results	The main reason for decrease in gross profit is mainly attributed to the decrease in sales due to fire incidents in two subsidiaries by end of 2014 & beginning of 2015 , political interruptions in some markets that the company deal with and selling prices decrease due to raw materials prices drop which directly due to drop in oil prices, the decrease in operational profit is mainly attributed to previous reasons in addition to the increase in general and administration expense which due to the additional administration costs related to some productions expansions which didn't started yet and impairement loss for some fixed assets . the net loss is mainly attributed to previous reasons in addition to the electricity provision taken to mitigate the risk of contingent liabilities from Sharja Electricity & Water Authority (SEWA).
Reclassifications in annual financial results	Certain figures of the comparative year have been reclassified to conform to the presentation of the current year.

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