Middle East Company for Manufacturing and Producing Paper reported earnings results for the third quarter and nine months ended September 30, 2023. For the third quarter, the company reported sales was SAR 229.18 million compared to SAR 303.52 million a year ago. Net loss was SAR 17.85 million compared to net income of SAR 53.93 million a year ago. Basic loss per share from continuing operations was SAR 0.27 compared to basic earnings per share from continuing operations of SAR 0.81 a year ago.
For the nine months, sales was SAR 642.5 million compared to SAR 955.49 million a year ago. Net loss was SAR 44.57 million compared to net income of SAR 244.91 million a year ago. Basic loss per share from continuing operations was SAR 0.67 compared to basic earnings per share from continuing operations of SAR 3.67 a year ago.