Thimar Development Holding Co. swung to a net profit of SAR 2.6 million in the first quarter of 2022, against a net loss of SAR 1.3 million in the prior-year period.
| Item | Q1 2021 | Q1 2022 | Change |
|---|---|---|---|
| Revenues | 0.43 | - | - |
| Gross Income | 0.04 | - | - |
| Operating Income | (1.56) | (1.26) | 18.9 % |
| Net Income | (1.33) | 2.55 | 292.4 % |
| Average Shares | 14.88 | 14.88 | - |
| EPS (Riyals) | (0.09) | 0.17 | 292.4 % |
| Item | Q4 2021 | Q1 2022 | Change |
|---|---|---|---|
| Gross Income | (0.02) | - | - |
| Operating Income | (43.91) | (1.26) | 97.1 % |
| Net Income | (158.72) | 2.55 | 101.6 % |
| Average Shares | 14.88 | 14.88 | - |
| EPS (Riyals) | (10.67) | 0.17 | 101.6 % |
The positive results were driven by a drop of SAR 1 million in general and administrative expenses (G&A), alongside a rise of SAR 4 million in other income.
Compared to the previous quarter, Thimar turned profitable from a net loss of SAR 158.72 million, backed by a drop of SAR 1 million and SAR 73 million in selling and marketing expenses, as well as G&A, respectively.
The company allocated provisions for financial claims and lawsuits of SAR 46 million in Q4 2021, compared to null in the current quarter.
Other income also grew by SAR 3 million.
Shareholders’ equity, after minority interest, stood at -SAR 91.891 million as of March 31, 2022, down from SAR 35.062 million a year earlier.
Accumulated losses reached SAR 226.395 million by the end of the three-month period, accounting for 226.4% of the company’s capital.
Argaam Investment Company has updated the Privacy Policy of its services and digital platforms. Know more about our Privacy Policy here.
Argaam uses cookies to personalize content, to provide social media features and analyze traffic, that we might also share with third parties. You consent to our cookies if you use this website
Comments {{getCommentCount()}}
Be the first to comment
رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}
{{comment.DisplayName}}
{{comment.ElapsedTime}}