Saudi paper manufacturer MEPCO's shares climb after 216% leap in H1 profits 

RIYADH: Shares of Saudi papers maker MEPCO rose 2.83 percent at SR65.3 on Monday's closing bell, following a 216 percent leap in profits for the first half of 2022.

Profits of the company, formally known as Middle East Paper Co., rose to SR192 million ($51 million) in the first half, up from SR60 million in the prior year period, it said in a bourse filing.

This was coupled with a 45 percent increase in revenue to SR652 million during the same period owing to higher demand and pricing.