Saudi Paper Manufacturing Co. announces its Interim Financial Results for the Period Ending on 2023-03-31 ( Three Months )

Saudi Paper Manufacturing Co. announces its Interim Financial Results for the Period Ending on 2023-03-31 ( Three Months )

|Element List||Current Quarter||Similar quarter for previous year||%Change||Previous Quarter||% Change|

|Sales/Revenue||217.28||194.7||11.6||189.25||14.81|

|Gross Profit (Loss)||52.18||48.5||7.59||48.59||7.39|

|Operational Profit (Loss)||20.12||19.97||0.75||14.85||35.49|

|Net Profit (Loss) after Zakat and Tax||8.55||13.3||-35.71||6.33||35.07|

|Total Comprehensive Income||8.65||13.01||-33.51||6.09||42.04|

|All figures are in (Millions) Saudi Arabia, Riyals|

|Element List||Current Period||Similar period for previous year||%Change|

|Total Share Holders Equity (after Deducting Minority Equity)||409.97||225.66||81.67|

|Profit (Loss) per Share||0.25||0.48|

|All figures are in (Millions) Saudi Arabia, Riyals|

|Element List||Explanation|

|The reason of the increase (decrease) in the net profit during the current quarter compared to the same quarter of the last year is||The reason for the decrease in the company’s net profit during the current quarter compared to the same quarter of the previous year is due to an increase in financing charges by SAR 4.4 million as a result of an increase in financing costs (Sibor). Despite a significant increase in sales of jumbo rolls and converting products, where sales in the current quarter increased by 11.6% compared to the same quarter of the previous year, which resulted in an increase in the gross profit by 7.6% and also an increase in selling and distribution expenses by SAR 2.4 million . The company made an effort to consume the relatively high-cost raw material inventory during the current quarter, yet managed to maintain profit margins. One of the