AlphaMena Corporate Services - SAUDI PAPER MANUFACTURING CO (SPM) Bleak outlook...

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AlphaMena Corporate Services

EUR 236.14 For Business Accounts Only

Bleak outlook...

The company posted a collapse in its operating profit, which amounted to SAR-31.76M (vs. SAR4.27M in the same quarter of the previous year). The Net Profit fell sharply to SAR-44.37M compared to SAR2.1M in Q4 2014. Sales have decreased by -18.3% to SAR137M compared to the same quarter of last year.
Saudi Paper ended the year 2015 with a negative net profit, as low as SAR-114.03M (compared to SAR25.07M in 2014).

03/02/2016 2 EN

Underlying

SAUDI PAPER MANUFACTURING CO

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Saudi Arabia

Provider

AlphaMena Corporate Services

AlphaMena is the MENA stocks leader in independent equity research, covering 142. MENA securities spanning across 19 sectors and 8 countries relaying on a team of 11 analysts. The breadth of coverage allows AlphaMena to formulate a coherent view on markets, sectors and to highlight the best investments in Mena zone using a robust homogeneous and transparent methodology, enabling pure and pertinent comparisons based on financial and extra-financial criteria.

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AlphaMena Corporate Services

Continuing to be disappointing

Saudi Paper posted a collapse in its Q1 2016 operating profit amounting to SAR1.61m (-89% compared to Q1 2015). Net profit have sharply fallen to SAR-6.18m, down from SAR4.86m a year earlier. These poor results are mainly due to a decrease of 24.5% in sales to SAR140.09m. Moreover, a fire incident happened on March 26, 2016 at the plant size of one of the groupâ€™s subsidiaries in Riyadh. The subsidiaryâ€™s management has initiated the process of assessing the estimated loss due to such incident (the assessment is expected to be completed by the end of April 2016).

EUR 236.14

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Bleak outlook...

Continuing to be disappointing

Resilient despite the turmoil

Tough year but better long term perspectives (Jordan Ahli Bank)

A boost is needed

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