Tihama's accumulated losses drop to 18.4% of capital in 2018

Tihama Advertising & Public Relations Co.’s (Tihama) accumulated losses dropped to 18.4 percent of capital as of Dec. 31, 2018, the firm said in a bourse statement on Monday.

Tihama’s accumulated losses reach around SAR 13.8 million, as the company accelerated its main advertising projects, cut the cost of sales, and settled debt, the statement said.

The company also restructured its subsidiaries, resulting in posting net profit for the fiscal year ending on March 31, 2018 and the nine-month period ending on Dec. 31, 2018, it added.