Financial Results : Thimar deepens Q1 2024 loss to SAR 2.3M

Thimar deepens Q1 2024 loss to SAR 2.3M

19/05/2024 Argaam Exclusive

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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.



Current Quarter Comparison (M)

Compared With The
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 %)

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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