Financial Results : Tihama posts SAR 9.7 mln loss in 9M 2019/20

Tihama posts SAR 9.7 mln loss in 9M 2019/20

11/02/2020 Argaam Exclusive

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Tihama Advertising and Public Relations Co. reported net losses of SAR 9.7 million for the nine-month period ending Dec. 31, 2019, against net profit of SAR 3.5 million a year earlier.

 

The results were hit by lower gross profit and higher selling and general expenses.

 

Losses per share for the current period were calculated on the net loss attributable to equity holders of the parent company of SAR 9.7 million, based on the weighted average number of issued shares (7.5 million) as of Dec. 31, 2019.



Financials (M)

Item 9m 2018 9m 2019 Change‬
Revenues 66.31 72.33 9.1 %
Gross Income 26.53 25.08 (5.5 %)
Operating Income (2.15) (15.75) (631.2 %)
Net Income 3.50 (12.91) (468.5 %)
Average Shares 17.01 17.01 -
EPS (Riyals) 0.21 (0.76) (468.5 %)

In Q3 2019, the company incurred net losses of SAR 2.8 million, on higher selling and distribution expenses, financing costs, along with a decline in other income.
 

Tihama’s accumulated losses reached SAR 21.2 million, or 28.3% of capital as of Dec. 31, 2019.



Current Quarter Comparison (M)

Compared With The
Item Q3 2018 Q3 2019 Change‬
Revenues 38.81 17.32 (55.4 %)
Gross Income 13.14 4.14 (68.5 %)
Operating Income 1.88 (11.66) (719.1 %)
Net Income 1.97 (14.71) (845.6 %)
Average Shares 17.01 17.01 -
EPS (Riyals) 0.12 (0.87) (845.6 %)

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