On 2026-08-05 08:00:49 (Saudi Time), Filling & Packing Materials MFG. Co. (FIPCO) announced its Interim financial results for the six months ended on June 30, 2026.

Year-on-Year Performance Drivers

For the six-month period ended June 30, 2026, FIPCO's sales/revenue increased 20.367% YoY to SAR 144.2 million (from SAR 119.8 million), driven by higher demand for certain key products and higher selling prices at both the Parent Company and its subsidiary (FPC). The company swung to a net profit of SAR 5.9 million from a net loss of SAR 15.1 million in the same period of the prior year, primarily due to a significant increase in gross profit (up 85.549% YoY to SAR 32.1 million from SAR 17.3 million) reflecting higher sales and improved profit margins, a decrease in G&A expenses following the settlement of financial and legal due diligence costs related to the acquisition of Bina Industrial Investment Holding Co. in H1 2025, a reduction in expected credit loss provisions under IFRS 9, and higher other income partly from government initiatives. These gains were partially offset by higher selling and marketing expenses due to increased freight costs from geopolitical developments and higher finance costs resulting from increased borrowings.

Quarter-on-Quarter Performance Drivers

QoQ revenue rose 23.565% to SAR 79.7 million (vs. SAR 64.5 million in the prior quarter), driven by higher demand for key products and increased selling prices at both the Parent Company and its subsidiary (FPC). Net profit attributable to shareholders grew 26.923% QoQ to SAR 3.3 million (vs. SAR 2.6 million), primarily supported by higher gross profit from improved sales volumes and margins, as well as a decrease in expected credit losses provision under IFRS 9. These gains were partially offset by higher selling and marketing expenses due to elevated freight costs from geopolitical developments, increased finance costs from higher borrowings, lower other income, and a higher Zakat provision.

Other Items

The external auditor issued an unmodified conclusion on FIPCO's consolidated interim financial results for the six months ended June 30, 2026. Certain comparative figures have been reclassified to be consistent with the current period presentation. Total shareholders' equity (after deducting minority equity) stood at SAR 132.2 million as of the current period, compared to SAR 130.3 million in the same period of the prior year, representing a 1.458% increase. Earnings per share for the current period were SAR 0.52, compared to a loss per share of SAR 1.32 in the same period of the prior year. No material risks, going concern uncertainties, or additional auditor comments were reported.

Original announcement:

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