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.
| 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.
| 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 %) |
| Item | Q2 2019 | Q3 2019 | Change |
|---|---|---|---|
| Revenues | 40.07 | 17.32 | (56.8 %) |
| Gross Income | 13.94 | 4.14 | (70.3 %) |
| Operating Income | 0.37 | (11.66) | (3295.6 %) |
| Net Income | 0.63 | (14.71) | (2438.8 %) |
| Average Shares | 17.01 | 17.01 | - |
| EPS (Riyals) | 0.04 | (0.87) | (2438.8 %) |
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