Riyadh – Mubasher: Saudi Printing and Packaging on Thursday said that its net losses decreased by 60.21% year-on-year in the third quarter of 2017.
Losses fell to SAR 4.58 million in Q3-17, from SAR 11.51 million in Q3-16, according to a statement to the Saudi Stock Exchange (Tadawul).
Quarter-on-quarter, losses levelled down 64.25%.
The Kingdom-based printing and packaging firm attributed the decline in its year-on-year losses to the drop in sales’ cost, trimming administrative, general, selling, and marketing expenses, a slight rise in sales, and a growth in other revenues.
At the level of the first nine months of 2017, the company’s net losses jumped 354.66% to reach SAR 33.19 million, compared to SAR 7.3 million in the corresponding period in the year earlier.
By 10:13 am KSA time, the stock rose 2.44% to reach SAR 18.88.
