Tihama swings to SAR 17.1 mln loss for 6M FY20/21

11/11/2020 Argaam Exclusive

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Tihama Advertising and Public Relations Co. reported net loss of SAR 17.1 million for the six months ending Sept. 30, 2020, versus net profit of SAR 1.8 million in year-earlier period, driven by lower gross profit.

The company also cited lower revenue after the Riyadh advertising contract expired, in addition to a rise of SAR 2.3 million in the capital increase expenses.

Financials (M)

Item	6m 2019	6m 2020	Change‬
Revenues	55.01	42.97	(21.9 %)
Gross Income	20.94	8.38	(60.0 %)
Operating Income	(4.09)	(13.83)	(238.4 %)
Net Income	1.81	(17.05)	(1044.6 %)
Average Shares	17.01	18.90	11.1 %
EPS (Riyals)	0.11	(0.90)	(949.9 %)

Tihama turned to net loss of SAR 7.7 million in Q2 ending Sept. 30, versus SAR 0.6 million profit in prior-year period, due to lower gross profit, while the company's revenue was negatively affected due to coronavirus outbreak.

On a sequential basis, Q2 loss shrank by 11%.

Current Quarter Comparison (M)

Compared With The

Item	Q2 2019	Q2 2020	Change‬
Revenues	40.07	21.42	(46.5 %)
Gross Income	13.94	3.48	(75.1 %)
Operating Income	0.37	(8.37)	(2392.6 %)
Net Income	0.63	(13.95)	(2318.4 %)
Average Shares	17.01	18.90	11.1 %
EPS (Riyals)	0.04	(0.74)	(2096.0 %)

Item	Q1 2020	Q2 2020	Change‬
Revenues	21.55	21.42	(0.6 %)
Gross Income	4.91	3.48	(29.2 %)
Operating Income	(5.46)	(8.37)	(53.3 %)
Net Income	(3.10)	(13.95)	(350.7 %)
Average Shares	17.01	18.90	11.1 %
EPS (Riyals)	(0.18)	(0.74)	(305.5 %)

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