{"id":12964,"date":"2022-05-15T00:00:00","date_gmt":"2022-05-14T21:00:00","guid":{"rendered":"https:\/\/fipco.com.sa\/new\/filling-packing-materials-mfg-co-fipco-announces-the-consolidated-interim-financial-results-for-the-period-ended-mar-31-2022-three-months\/"},"modified":"2024-12-19T11:36:47","modified_gmt":"2024-12-19T08:36:47","slug":"filling-packing-materials-mfg-co-fipco-announces-the-consolidated-interim-financial-results-for-the-period-ended-mar-31-2022-three-months","status":"publish","type":"post","link":"https:\/\/fipco.com.sa\/new\/filling-packing-materials-mfg-co-fipco-announces-the-consolidated-interim-financial-results-for-the-period-ended-mar-31-2022-three-months\/","title":{"rendered":"Filling & Packing Materials MFG. Co. (FIPCO) announces the Consolidated Interim Financial results for the period ended Mar. 31, 2022 (Three Months)"},"content":{"rendered":"

Filling & Packing Materials MFG. Co. (FIPCO) announces the Consolidated Interim Financial results for the period ended Mar. 31, 2022 (Three Months)<\/h1>\n\n\n\n\n\n\n\n\n\n\n\n
ELEMENT LIST<\/th>\nCURRENT QUARTER<\/th>\nSIMILAR QUARTER FOR PREVIOUS YEAR<\/th>\n%CHANGE<\/th>\nPREVIOUS QUARTER<\/th>\n% CHANGE<\/th>\n<\/tr>\n<\/thead>\n
Sales\/Revenue<\/td>\n62.9<\/span><\/td>\n48.5<\/span><\/td>\n29.69<\/span><\/td>\n60.3<\/span><\/td>\n4.311<\/span><\/td>\n<\/tr>\n
Gross Profit (Loss)<\/td>\n8.6<\/span><\/td>\n8.2<\/span><\/td>\n4.878<\/span><\/td>\n9.3<\/span><\/td>\n-7.526<\/span><\/td>\n<\/tr>\n
Operational Profit (Loss)<\/td>\n0.7<\/span><\/td>\n-0.7<\/span><\/td>\n–<\/span><\/td>\n0.5<\/span><\/td>\n39.999<\/span><\/td>\n<\/tr>\n
Net Profit (Loss) after Zakat and Tax<\/td>\n0.4<\/span><\/td>\n-1.5<\/span><\/td>\n–<\/span><\/td>\n1.1<\/span><\/td>\n-63.636<\/span><\/td>\n<\/tr>\n
Total Comprehensive Income<\/td>\n0.4<\/span><\/td>\n-1.5<\/span><\/td>\n–<\/span><\/td>\n1.6<\/span><\/td>\n-75<\/span><\/td>\n<\/tr>\n<\/tbody>\n
All figures are in (Millions) Saudi Arabia, Riyals<\/td>\n<\/tr>\n<\/tfoot>\n<\/table>\n\n\n\n\n\n<\/colgroup>\n\n\n\n\n\n\n\n\n\n<\/colgroup>\n\n\n\n\n\n\n\n
ELEMENT LIST<\/th>\nCURRENT PERIOD<\/th>\nSIMILAR PERIOD FOR PREVIOUS YEAR<\/th>\n%CHANGE<\/th>\n<\/tr>\n<\/thead>\n
Total Share Holders Equity (after Deducting Minority Equity)<\/td>\n120.5<\/span><\/td>\n127.2<\/span><\/td>\n-5.267<\/span><\/td>\n<\/tr>\n
Profit (Loss) per Share<\/td>\n0.03<\/span><\/td>\n-0.13<\/span><\/td>\n<\/tr>\n<\/tbody>\n
All figures are in (Millions) Saudi Arabia, Riyals<\/td>\n<\/tr>\n<\/tfoot>\n<\/table>\n\n
ELEMENT LIST<\/th>\nEXPLANATION<\/th>\n<\/tr>\n<\/thead>\n
The reason of the increase (decrease) in the net profit during the current quarter compared to the same quarter of the last year is<\/td>\nThe reason for net profit for the first quarter of 2022 compared to the net losses achieved in the corresponding quarter of the previous year 2021 lies mainly behind the following: <\/p>\n

 <\/p>\n

1- Increase in gross profit due from increased turnover in spite of ascending increase in the main raw materials prices.<\/p>\n

2- General and administrative expenses are lower because of bonus provisions during the first quarter of 2021.<\/p>\n

3- decrease in expected credit losses provision.<\/p>\n

4- Increase in other income arising from impairment of capital assets for low economic viability that took place in the first quarter of 2021.<\/p>\n

5- Higher gains of investments at fair value through profit or loss.<\/p>\n

 <\/p>\n

These results achieved in spite of increased sales and marketing expenses arising from higher shipping costs.<\/td>\n<\/tr>\n

The reason of the increase (decrease) in the net profit during the current quarter compared to the previous period of the current year is<\/td>\nThe reason for lower net profit for the first quarter of 2022 compared to the last quarter of 2021 lies mainly behind the following: <\/p>\n

 <\/p>\n

1- Declined gross profit resulted from ascending increase in the main raw materials prices, despite of growing turnover.<\/p>\n

2- Sales and marketing expenses are higher based on increased shipping costs.<\/p>\n

3- Re-evaluating the contingent liability against non-controlling interest acquisition during the 4th quarter of 2021.<\/p>\n

4- Decrease in other income.<\/p>\n

 <\/p>\n

These results achieved in spite of:<\/p>\n

 <\/p>\n

1- Decrease in General and administrative expenses.<\/p>\n

2- Decrease in banking charges.<\/p>\n

3- Higher gains of investments at fair value through profit or loss.<\/td>\n<\/tr>\n

Statement of the type of external auditor’s report<\/td>\nUnmodified conclusion<\/td>\n<\/tr>\n
Reclassification of Comparison Items<\/td>\nCertain Comparative figures have been reclassified to be consistent with the presentation of the current period presentation.<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n","protected":false},"excerpt":{"rendered":"

Filling & Packing Materials MFG. Co. (FIPCO) announces the Consolidated Interim Financial results for the period ended Mar. 31, 2022 (Three Months) ELEMENT LIST CURRENT QUARTER SIMILAR QUARTER FOR PREVIOUS YEAR %CHANGE PREVIOUS QUARTER % CHANGE Sales\/Revenue 62.9 48.5 29.69 60.3 4.311 Gross Profit (Loss) 8.6 8.2 4.878 9.3 -7.526 Operational Profit (Loss) 0.7 -0.7 […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[138],"tags":[],"class_list":["post-12964","post","type-post","status-publish","format-standard","hentry","category-news"],"_links":{"self":[{"href":"https:\/\/fipco.com.sa\/new\/wp-json\/wp\/v2\/posts\/12964","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/fipco.com.sa\/new\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/fipco.com.sa\/new\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/fipco.com.sa\/new\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/fipco.com.sa\/new\/wp-json\/wp\/v2\/comments?post=12964"}],"version-history":[{"count":1,"href":"https:\/\/fipco.com.sa\/new\/wp-json\/wp\/v2\/posts\/12964\/revisions"}],"predecessor-version":[{"id":13102,"href":"https:\/\/fipco.com.sa\/new\/wp-json\/wp\/v2\/posts\/12964\/revisions\/13102"}],"wp:attachment":[{"href":"https:\/\/fipco.com.sa\/new\/wp-json\/wp\/v2\/media?parent=12964"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/fipco.com.sa\/new\/wp-json\/wp\/v2\/categories?post=12964"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/fipco.com.sa\/new\/wp-json\/wp\/v2\/tags?post=12964"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}