Printing subsidiary sells lines at 5M Riyal loss
The Saudi Printing and Packaging Company has announced the sale of its polypropylene cup production lines and plastic containers in the UAE for 1.12 million rials. The book value of the sold assets amounts to 6.1 million rials, reflecting an unrealized loss of approximately 5 million rials due to the difference between the sale price and the book value. This transaction aligns with the company's strategy to reduce non-strategic assets, improve liquidity, and enhance financial efficiency, by focusing resources on sectors with higher growth and profit margins. The goal of the deal is to help mitigate regulatory pressures on single-use plastic products and to ensure the group's financial sustainability.
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