Filling & Packing Materials MFG. Co. (FIPCO) announces the Consolidated Interim Financial results for the period ended Mar. 31, 2026 (Three Months)
| 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 | |||
| Element List | Explanation |
|---|---|
| The reason of the increase (decrease) in the sales/ revenues during the current quarter compared to the same quarter of the last year is | The increase in sales is mainly attributable to higher sales volumes at the parent company and its subsidiary (FPC), driven by increased demand for certain products. |
| The reason of the increase (decrease) in the net profit during the current quarter compared to the same quarter of the last year is | The net profit achieved during the current quarter, compared to the net loss reported in the first quarter of the fiscal year 2025, is mainly attributable to the following:
1- Higher gross profit driven by increased sales volumes at the company and its subsidiary (FPC), variation in product mix, and improved profit margins at the subsidiary (FPC). 2- Lower general and administrative expenses. 3- Higher other income following the successful recovery of previously written-off receivables. 4- Decrease in Zakat provision.
This came despite the following:
1- Increase in selling and marketing expenses due to higher hiring and freight costs. 2- Increase in expected credit loss provisions in line with IFRS 9. 3- Higher finance costs. |
| The reason of the increase (decrease) in the sales/ revenues during the current quarter compared to the previous one is | The decrease in sales during the current quarter compared to the 4th quarter of 2025 is mainly attributable to lower sales volumes at the subsidiary (FPC) due to the seasonal nature of sales, despite improved profit margins. |
| The reason of the increase (decrease) in the net profit (loss) during the current quarter compared to the previous one is | The net profit achieved during the first quarter of the fiscal year 2026, compared to the net loss reported in the 4th quarter of the fiscal year 2025, is mainly attributable to the following:
1- Higher gross profit driven by improved profit margins at the company and its subsidiary. 2- Lower selling and marketing expenses. 3- Lower general and administrative expenses. 4- Decrease in expected credit loss provisions in line with IFRS 9, due to the recognition of a specific provision for a major customer at the end of the 4th quarter of 2025.
This was despite the following:
1- Re-evaluating the contingent liability against non-controlling interest acquisition during the 4th quarter of 2025. 2- Lower other income. 3- Increase in Zakat provision. |
| Statement of the type of external auditor’s report | Unmodified conclusion |
| Comment mentioned in the external auditor’s report, mentioned in any of the following paragraphs (other matter, conservation, notice, disclaimer of opinion, or adverse opinion) | N/A |
| Reclassification of Comparison Items | Certain Comparative figures have been reclassified to be consistent with the presentation of the current period presentation. |
| Additional Information | – |