Tihama narrows loss to SAR 35.5 mln for FY2021/22, Q4 loss at SAR 6.3 mln

30/06/2022 Argaam Exclusive

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Tihama Advertising and Public Relations Co. narrowed its net loss after Zakat and tax to SAR 35.5 million for the fiscal year ended March 31, 2022, compared to SAR 72.2 million in year-earlier period.

Financials (M)

Item	2020	2021	Change‬
Revenues	73.25	76.39	4.3 %
Gross Income	10.63	15.23	43.3 %
Operating Income	(55.35)	(44.48)	19.6 %
Net Income	(72.18)	(35.50)	50.8 %
Average Shares	18.90	18.90	-
EPS (Riyals)	(3.82)	(1.88)	50.8 %

The reason for the decrease in losses is mainly due to a SAR 11.2 million increase in gross profit, as the advertising segment’s gross profit rose by nearly SAR 5.2 million.

In addition, the company’s share of associates’ earnings grew by SAR 14.6 million. However, selling and administrative expenses surged by SAR 8.8 million, mainly as a result of the expansion of retail operations.

Current Quarter Comparison (M)

Compared With The

Item	Q4 2020	Q4 2021	Change‬
Revenues	17.95	15.84	(11.7 %)
Gross Income	(0.03)	2.39	7562.5 %
Operating Income	(25.32)	(14.96)	40.9 %
Net Income	(40.51)	(6.33)	84.4 %
Average Shares	18.90	18.90	-
EPS (Riyals)	(2.14)	(0.34)	84.4 %

Item	Q3 2021	Q4 2021	Change‬
Revenues	14.43	15.84	9.8 %
Gross Income	0.64	2.39	276.1 %
Operating Income	(12.76)	(14.96)	(17.3 %)
Net Income	(9.54)	(6.33)	33.6 %
Average Shares	18.90	18.90	-
EPS (Riyals)	(0.50)	(0.34)	33.6 %

The fourth-quarter loss reached SAR 6.33 million, compared to SAR 40.53 million in year-earlier period.

Total shareholders’ equity, after minority interest, reached SAR 8.3 million as of March 31, 2022, compared to SAR 44.3 million a year earlier.

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