Saudi Printing’s loss climbs 164% YoY in H1-24

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Saudi Printing and Packaging Company’s net loss surged by 164.50% year-on-year (YoY) to SAR 93.74 million during the first half (H1) of 2024 from SAR 35.44 million.

The company’s revenue decreased by 10.29% YoY to SAR 361.35 million in H1-24 from SAR 402.82 million in H1-23, according to interim financial results.

The loss per share amounted to SAR 1.56 from January until the end of June, up from SAR 0.59 in the comparative period a year earlier.

Second Quarters

During the second quarter (Q2) of 2024, Saudi Printing’s net loss soared by 253.47% to SAR 71.12 million from SAR 20.12 million.

Sales shrank by 9.08% to SAR 174.45 million in Q2-24 from SAR 191.89 million.

Quarter-on-quarter (QoQ), the company’s net loss jumped by 214.41% in Q2-24 from SAR 22.62 million in previous quarter, while sales declined by 6.66% from SAR 186.90 million.

Saudi Printing’s accumulated loss recorded SAR 194.78 million at the end of June 2024, making up 32.50% of capital.

It is worth highlighting that the company’s net loss leapt by 47.65% YoY to SAR 22.62 million in Q1-24 from SAR 15.32 million.