reports
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 group’s subsidiaries in Riyadh. The subsidiary’s management has initiated the process of assessing the estimated loss due to such inciden...
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).
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