Thimar Development Holding Co. slid into a deeper loss of SAR 2.3 million in the first quarter of 2024, from SAR 326,403 in the year-earlier period.
| Item | Q1 2023 | Q1 2024 | Change |
|---|---|---|---|
| Operating Income | (1.18) | (4.04) | (243.1 %) |
| Net Income | (0.33) | (2.31) | (606.6 %) |
| Average Shares | 3.87 | 6.50 | 68.1 % |
| EPS (Riyals) | (0.08) | (0.35) | (320.4 %) |
| Item | Q4 2023 | Q1 2024 | Change |
|---|---|---|---|
| Operating Income | (13.09) | (4.04) | 69.1 % |
| Net Income | (4.03) | (2.31) | 42.8 % |
| Average Shares | 6.50 | 6.50 | - |
| EPS (Riyals) | (0.62) | (0.35) | 42.8 % |
The company widened losses on higher general and administrative expenses (G&A).
On the other hand, net losses shrank by 42.8% from SAR 4 million in Q4 2023, thanks to a decline in G&A.
Total shareholders’ equity, no minority interest, tumbled to SAR 28.83 million by March 31, 2024, from SAR 100.83 million a year earlier.
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