Tihama widens loss to SAR 74.7 mln for FY2020/21

30/06/2021 Argaam Exclusive

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Tihama Advertising and Public Relations Co. widened net loss after Zakat and tax to SAR 74.7 million for the fiscal year ended March 31, 2021, compared to net loss of SAR 25.6 million in year-earlier period.

The losses were driven by lower gross profit of business segments and a decline in the company’s revenue due to the COVID-19 outbreak.

The company also cited higher expenses related to the capital increase and lower profit share from associates.

In Q4 2020/21, net losses stood at SAR 43 million.

Accumulated losses reached SAR 115.96 million, or 66.3% of capital as of March 31, 2021.

Financials (M)

Item	2019	2020	Change‬
Revenues	96.81	73.25	(24.3 %)
Gross Income	30.20	10.63	(64.8 %)
Operating Income	(36.15)	(55.35)	(53.1 %)
Net Income	(25.59)	(72.18)	(182.0 %)
Average Shares	17.01	18.90	11.1 %
EPS (Riyals)	(1.51)	(3.82)	(153.7 %)

Current Quarter Comparison (M)

Compared With The

Item	Q4 2019	Q4 2020	Change‬
Revenues	24.48	17.95	(26.7 %)
Gross Income	5.12	(0.03)	(100.6 %)
Operating Income	(20.40)	(25.32)	(24.1 %)
Net Income	(12.69)	(40.51)	(219.3 %)
Average Shares	17.01	18.90	11.1 %
EPS (Riyals)	(0.75)	(2.14)	(187.3 %)

Item	Q3 2020	Q4 2020	Change‬
Revenues	12.33	17.95	45.6 %
Gross Income	2.28	(0.03)	(101.4 %)
Operating Income	(16.21)	(25.32)	(56.2 %)
Net Income	(14.62)	(40.51)	(177.1 %)
Average Shares	18.90	18.90	-
EPS (Riyals)	(0.77)	(2.14)	(177.1 %)

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