Tihama turns to loss of SAR 26 mln in FY 2019-2020

17/06/2020 Argaam Exclusive

Tihama Advertising and Public Relations Co. (Tihama) reported a net loss after Zakat and tax of SAR 26 million for the fiscal year ending March 31, 2020 , compared to a net profit of SAR 5.2 million in the same period last year.



Financials (M)

Item 2018 2019 Change‬
Revenues 80.65 96.81 20.0 %
Gross Income 29.45 30.20 2.5 %
Operating Income (11.11) (36.15) (225.5 %)
Net Income 5.17 (25.59) (594.9 %)
Average Shares 17.01 17.01 -
EPS (Riyals) 0.30 (1.51) (594.9 %)


Current Quarter Comparison (M)

Compared With The
Item Q4 2018 Q4 2019 Change‬
Revenues 14.34 24.48 70.7 %
Gross Income 2.92 5.12 75.3 %
Operating Income (8.96) (20.40) (127.8 %)
Net Income 1.67 (12.69) (860.2 %)
Average Shares 17.01 17.01 -
EPS (Riyals) 0.10 (0.75) (860.2 %)

The net loss was attributed to higher operational losses due to the impact of COVID-19 measures, writing off of slow moving and obsolete inventory, as well as loss of advertising site contracts in Riyadh.

 

In addition, other income fell as a result of decline in settlements of advertising rental contracts, a drop in service revenues, and an impairment loss in intangible assets’ value.

 

However, the company reported an increase in profit from associates.

 

Meanwhile, Tihama’s net loss after Zakat and tax widened to SAR 16.3 million in the fourth quarter of 2019, compared to a net profit of SAR 1.67 million in the same period of 2018.

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Share Price

Tihama Advertising and Public Relations Co.
15.34
0.22 1.46 %

Tihama Advertising and Public Relations Co. (TAPRCO)

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Financial Ratios
Current
Market Cap (M Riyal) 613.60
Enterprise Value (EV) (M) 324.30
Shares Outstanding ((M)) 40.00
EPS ( Riyal) (TTM) (1.15)
Book Value (BV) ( Riyal) 5.37
Par Value ( Riyal) 10.00
Adjusted P/E (Last12) Neg
P/E (TTM) NEG
Price/book 2.86
Return on Average Assets (%) (TTM) (15.63 )
Return on Average Equity (%) (TTM) (61.62 )
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