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.
| 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%.
| 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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