Tihama Advertising and Public Relations Co. narrowed its net loss to SAR 19.6 million in H1 2021/22 ended Sept. 30, 2021, from SAR 17.1 million in the prior-year period.
The company attributed the decline in losses to higher gross profit of the company’s retail segment and advertising segment as well as higher share from associates’ profit. In addition, the company’s results for the same period included the impact of closure of branches as part of the precautionary measures to combat the spread of the COVID-19.
| Item | 6m 2020 | 6m 2021 | Change |
|---|---|---|---|
| Revenues | 42.97 | 46.12 | 7.3 % |
| Gross Income | 8.38 | 12.21 | 45.6 % |
| Operating Income | (13.83) | (16.76) | (21.2 %) |
| Net Income | (17.05) | (19.63) | (15.1 %) |
| Average Shares | 18.90 | 18.90 | - |
| EPS (Riyals) | (0.90) | (1.04) | (15.1 %) |
The company reported a net loss of SAR 8.1 million for Q2 2021/22, compared to SAR 14 million in the same quarter last year.
On a sequential basis, the company also narrowed its losses from a loss of SAR 11.5 million in Q1 2021/22.
| Item | Q2 2020 | Q2 2021 | Change |
|---|---|---|---|
| Revenues | 21.42 | 32.22 | 50.4 % |
| Gross Income | 3.48 | 9.65 | 177.8 % |
| Operating Income | (8.37) | (5.86) | 29.9 % |
| Net Income | (13.95) | (8.10) | 41.9 % |
| Average Shares | 18.90 | 18.90 | - |
| EPS (Riyals) | (0.74) | (0.43) | 41.9 % |
| Item | Q1 2021 | Q2 2021 | Change |
|---|---|---|---|
| Revenues | 13.89 | 32.22 | 131.9 % |
| Gross Income | 2.56 | 9.65 | 277.7 % |
| Operating Income | (10.89) | (5.86) | 46.2 % |
| Net Income | (11.53) | (8.10) | 29.7 % |
| Average Shares | 18.90 | 18.90 | - |
| EPS (Riyals) | (0.61) | (0.43) | 29.7 % |
Accumulated losses stood at SAR 135.6 million as of Sept. 30, 2021, representing 77.5% of the company’s SAR 175 million capital.
Shareholders’ equity fell to SAR 33.5 million as of Sept. 30 from SAR 118.5 million in the same period last year.
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