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Printing and Packaging cuts losses to 24.76M Riyals
The Saudi Printing and Packaging Company announced a 20.59% decrease in its net losses for the second quarter of 2026, recording a loss of 24.76 million riyals compared to 31.18 million riyals in the same period of the previous year. This improvement was attributed to a reduction in operating expenses and financing costs. During the first half of the year, losses decreased by 68.42%, reaching 17.55 million riyals, despite ongoing structural and financial challenges, with accumulated losses amounting to 607.86 million riyals (93.22% of its capital). The company also experienced a decline in revenue by 32.61%, and second-quarter sales dropped by 26.29%. Efforts to improve performance included reducing expenses and converting some loans into equity; however, the report warns of the company's continued risks due to weak liquidity and the high level of accumulated debt.
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