Thimar Development Holding Co. swung to a net profit of SAR 2 million in the first half of 2022, against a net loss of SAR 2.5 million in the prior-year period.
Item | 6m 2021 | 6m 2022 | Change |
---|---|---|---|
Revenues | 0.43 | - | - |
Gross Income | 0.04 | - | - |
Operating Income | (2.97) | (2.42) | 18.3 % |
Net Income | (2.46) | 1.39 | 156.7 % |
Average Shares | 3.87 | 3.87 | - |
EPS (Riyals) | (0.63) | 0.36 | 156.7 % |
The positive results were driven by a drop in general and administrative expenses (G&A), alongside a rise in other income.
Thimar narrowed its losses to SAR 541,000 in Q2 2022, from SAR 1.1 million in Q2 2021.
Sequentially, the company turned to a net loss in Q2 2022, from a profit of SAR 2.5 million in Q1 2022.
Item | Q2 2021 | Q2 2022 | Change |
---|---|---|---|
Operating Income | (1.41) | (1.16) | 17.6 % |
Net Income | (1.13) | (1.16) | (2.7 %) |
Average Shares | 3.87 | 3.87 | - |
EPS (Riyals) | (0.29) | (0.30) | (2.7 %) |
Item | Q1 2022 | Q2 2022 | Change |
---|---|---|---|
Operating Income | (1.26) | (1.16) | 8.2 % |
Net Income | 2.55 | (1.16) | (145.5 %) |
Average Shares | 3.87 | 3.87 | - |
EPS (Riyals) | 0.66 | (0.30) | (145.5 %) |
Shareholders’ equity, after minority interest, turned to a negative figure at -SAR 94.4 million as of June 30, 2022, down from SAR 33.9 million a year earlier.
Accumulated losses reached SAR 226.9 million by the end of the six-month period, accounting for 226.9% of the company’s capital.
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