Riyadh – Mubasher: Saudi Printing and Packaging on Tuesday posted a 66.38% drop in its net profit for Q1-15 to SAR 3.9 million ($1.04 million), compared to SAR 11.6 million ($3.09 million) in the same period the year before.
Lower value of sales due to economic circumstances in several foreign markets in which the company operates were the cause of the profit fall, the printing firm said in a bourse filing.
It added that a decline in selling prices due to lower prices of global oil and raw materials added to a rise in some provisions contributed to the profit fall.
