FIPCO Reports SAR 2.6M Net Profit in Three Months 2026
FIPCO 2180.SA | 0.00 |
On 2026-05-07 08:02:10 (Saudi Time), Filling & Packing Materials MFG. Co. (FIPCO) announced its Interim financial results for the three months ended on March 31, 2026.
| Element List | Current Quarter | Similar quarter for previous year | %Change | Previous Quarter | % Change |
|---|---|---|---|---|---|
| Sales/Revenue | 64.5 | 53.8 | 19.888 | 68.9 | -6.386 |
| Gross Profit (Loss) | 14.9 | 8.7 | 71.264 | 10.6 | 40.566 |
| Operational Profit (Loss) | 2.9 | -2.1 | - | -9 | - |
| Net Profit (Loss) Attributable to Shareholders of the Issuer | 2.6 | -3.6 | - | -1.2 | - |
| Total Comprehensive Income Attributable to Shareholders of the Issuer | 2.6 | -3.6 | - | -1.3 | - |
| All figures are in (Millions) Saudi Arabia, Riyals | |||||
| Element List | Current Period | Similar period for previous year | %Change |
|---|---|---|---|
| Total Shareholders Equity (after Deducting Minority Equity) | 128.8 | 141.8 | -9.167 |
| Profit (Loss) per Share | 0.23 | -0.31 | |
| All figures are in (Millions) Saudi Arabia, Riyals | |||
| Element List | Amount | Percentage of the capital (%) | |
|---|---|---|---|
| Profit (Losses) Resulting From The Change In Investment Propertie’s Fair Value | - | - | |
| All figures are in (Millions) Saudi Arabia, Riyals | |||
Year-on-Year Performance Drivers
Sales increased 19.888% YoY to SAR 64.5 million, driven by higher sales volumes at both the parent company and subsidiary (FPC) due to increased demand for certain products. Net profit improved significantly from a loss of SAR 3.6 million to a profit of SAR 2.6 million, primarily attributable to higher gross profit from increased sales volumes and improved product mix, lower general and administrative expenses, higher other income from recovery of previously written-off receivables, and decreased Zakat provision, despite increases in selling and marketing expenses, expected credit loss provisions, and finance costs.
Quarter-on-Quarter Performance Drivers
QoQ revenue declined 6.39% from 68.9 million to 64.5 million SAR, primarily due to lower sales volumes at subsidiary FPC caused by seasonal sales patterns, despite improved profit margins. Net profit turned positive at 2.6 million SAR compared to a 1.2 million SAR loss in the previous quarter, driven by higher gross profit from improved margins, reduced selling/marketing and administrative expenses, and lower expected credit loss provisions following a major customer provision in Q4 2025.
Other Items
Auditors issued an unmodified conclusion with no additional comments, disclaimers, or adverse opinions noted. Total shareholders equity decreased 9.167% to SAR 128.8 million compared to the previous year. Earnings per share improved from -0.31 to 0.23. Certain comparative figures were reclassified for consistency with current period presentation.
Original announcement:
https://www.saudiexchange.sa/wps/portal/saudiexchange/newsandreports/issuer-news/issuer-announcements/issuer-announcements-details/?anId=95052&anCat=1&cs=2180&locale=arImportant Notice: The announcement information and market data in this report are sourced directly from the Saudi Exchange (Tadawul). This summary is generated by Sahm’s proprietary AI model for informational purposes only. While we strive for accuracy, it should not be construed as financial advice or an investment recommendation.