10/02/2013 08:54 AST

Saudi Printing and Packaging Company (SPPC) announces its consolidated annual financial results for the year ended 31/12/2012:

1. The net income was SR 124.6 Million compared to SR 36.0 Million for the previous year, representing an increase of 246.1%.

2. The earnings per shar was SR 2.08 compared to SR 0.60 for the previous year.

3. The gross profit was SR 150.8 Million compared to SR 75.6 Million for the previous year, representing an increase of 99.5%.

4. The income from operations was SR 67.2 Million compared to SR 38.9 Million for the previous year, representing an increase of 72.8%.

5. The main reason for the increase in net income for the year ended 31/12/2012 compared to previous year is mainly attributable to a capital gain amounting to SR 77.0 Million included in other income arising from the sale of a part of SPPCs land located in Dhahban district in Jeddah, in addition to including the financial results for the second half of 2012 of Emirates National Factory for Plastic Industries L.L.C., the wholly acquired company, in SPPCs consolidated financial results.

Note: Certain figures of the comparative year have been reclassified to conform to the presentation of the current year.


Tadawul

SPPC announces its interim consolidated financial results

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SPPC Announces Its Interim Consolidated Financial Results

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SPPC acquires UAE-based plastic industries group

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Saudi Printing and Packaging Company, a subsidiary of Saudi Research & Marketing Group, has acquired 100 percent of Emirates National Factory for Plastic Industries (ENPI), it was announced yesterday

Arab News

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