Financial Results : Thimar widens losses to SAR 4.4M in Q1 2025

Thimar widens losses to SAR 4.4M in Q1 2025

15/05/2025 Argaam Exclusive

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Thimar Development Holding Co. widened net loss to SAR 4.4 million in Q1 2025 from SAR 2.3 million in Q1 2024.



Current Quarter Comparison (M)

Compared With The
Item Q1 2024 Q1 2025 Change‬
Operating Income (4.04) (4.72) (16.8 %)
Net Income (2.31) (4.43) (92.0 %)
Average Shares 6.50 6.50 -
Earnings Per Share before unusual items (Riyal) (0.62) (0.68) (9.6 %)
EPS (Riyal) (0.35) (0.68) (92.0 %)

The higher losses were due to the absence of revenue in both the current and comparable quarters. Additionally, other income declined by approximately SAR 2 million year-on-year (YoY).

 

The company swung to a net loss in Q1 2025 from a net profit of SAR 3.27 million in Q4 2024.

 

There was no revenue generated in either the current or previous quarter. However, in Q4 2024, the company recorded unrealized gains from investments measured at fair value through profit or loss amounting to SAR 1.72 million. No such gains were recorded in the current quarter.

 

Total shareholders’ equity, no minority interest, fell to SAR 20.40 million by March 31, 2025, compared to SAR 28.83 million a year ago.

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