Thimar Development Holding Co. reported a net loss of SAR 1.6 million in H1 2023, versus a net profit of SAR 1.4 million a year earlier.
| Item | 6m 2022 | 6m 2023 | Change |
|---|---|---|---|
| Operating Income | (2.42) | (2.52) | (4.1 %) |
| Net Income | 1.39 | (1.56) | (212.3 %) |
| Average Shares | 14.88 | 14.88 | - |
| EPS (Riyals) | 0.09 | (0.11) | (212.3 %) |
Higher general and administrative expenses, as well as a decline in other income weighed on the six-month results.
The company widened Q2 2023 net losses to SAR 1.3 million from SAR 710,000 in Q2 2022 on general and administrative expenses.
The second-quarter net losses increased by 65.9% from SAR 780,000 in Q1 2023 hurt by a rise in general and administrative expenses.
| Item | Q2 2022 | Q2 2023 | Change |
|---|---|---|---|
| Operating Income | (1.16) | (1.41) | (21.6 %) |
| Net Income | (1.16) | (1.30) | (12.3 %) |
| Average Shares | 14.88 | 14.88 | - |
| EPS (Riyals) | (0.08) | (0.09) | (12.3 %) |
| Item | Q1 2023 | Q2 2023 | Change |
|---|---|---|---|
| Operating Income | (1.18) | (1.41) | (19.6 %) |
| Net Income | (0.78) | (1.30) | (65.9 %) |
| Average Shares | 14.88 | 14.88 | - |
| EPS (Riyals) | (0.05) | (0.09) | (65.9 %) |
Shareholders’ equity, after minority interest, amounted to -SAR 98.27million as of June 30, 2023, against -SAR 92.78million a year earlier.
Accumulated losses stood at SAR 232.77 million by the end of H1 2023, accounting for 232.78% of the company’s capital.
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