Riyadh – Mubasher: Saudi Paper Manufacturing Company recorded a net profit after Zakat and tax worth SAR 29.2 million in the first half (H1) of 2021, a leap of 498% from SAR 4.88 million in H1-20.
Earnings per share amounted to SAR 1.53 in H1-21, compared to SAR 0.3 in H1-20, according to a bourse disclosure on Wednesday.
Sales increased annually by 3.8% to SAR 299.75 million in the first six months of 2021 from SAR 288.55 million in the same period last year.
During the second quarter (Q2) of 2021, Saudi Paper posted a surge of 295% in net profits to SAR 15.14 million from SAR 3.83 million in Q2-20.
Sales declined marginally by 0.9% to SAR 141.26 million in Q2-21 from SAR 142.67 million in Q2-20.
Quarter-on-quarter (QoQ), the company’s net profits in Q2-21 were higher by 7.6% than SAR 14.06 million in Q1-21. The sales meanwhile shrank by 10.8% from SAR 158.49 million.
