Tihama cuts H1 2024/25 losses to SAR 6.4M; Q2 profit at SAR 770,000

Tihama Advertising and Public Relations Co. narrowed net losses to SAR 6.4 million in the six-month period ended Sept. 30, 2024, from SAR 17.9 million in the year-earlier period.

Net loss before deducting minority interest stood at SAR 6.5 million for the six-month period, compared to SAR 18.1 million a year earlier.

The losses narrowed as revenues rose by about SAR 7.8 million year-on-year (YoY), mainly due to an annual increase in education segment revenues by SAR 6.8 million amid growing clients numbers.

There was also an increase in the retail segment revenues by about SAR 2.8 million YoY due to the opening of new branches and lower advertising and productions segment losses due to a decline in general and administrative expenses.

The abovementioned effect was partially offset by a decrease in advertising segment revenues by about SAR 223,000 due to the decrease in the operations size, in addition to a decrease in production segment revenues by about SAR 1.4 million due to lower production projects YoY.

The company turned to a profit of SAR 770,000 in the second quarter against a loss of SAR 6.36 million a year earlier.

On a sequential basis, the company saw a profit versus a loss of SAR 7.17 million in Q1 2024/25.

Total shareholders’ equity stood at SAR 207.93 million as of Sept. 30, 2024, compared to SAR 247.14 million in the year-earlier period.

Accumulated losses reached SAR 166.3 million during the same period, accounting for 41.6% of the company’s capital.

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