Riyadh – Mubasher: Tihama Advertising and Public Relations Company recorded net losses after Zakat and tax worth SAR 30.6 million during the nine-month (9M) period that ended on 31 December 2021, down 18.1% from SAR 37.4 million in the same period a year earlier.
Losses per share amounted to SAR 1.67 in 9M of fiscal year (FY) 2021/2022, compared to SAR 2.33 in 9M-20/21, the interim financial results showed.
Revenues increased by 26.58% to SAR 70 million during the nine-month period of FY21/22 from SAR 55.3 million in the corresponding duration of the previous FY.
The company’s accumulated losses have reached SAR 141.67 million at the end of 9M-21/22, accounting for 81% of the SAR 175 million capital.
During the third quarter (Q3) of FY21/22, Tihama incurred net losses after Zakat and tax worth SAR 10.9 million, lower by 35% than SAR 16.8 million during Q3-20/21.
Sales jumped by 52% year-on-year (YoY) to SAR 18.7 million in Q3-21/22 from SAR 12.3 million.
On a quarterly basis, the company’s net losses increased by 32.9% in Q3-21/22 from SAR 8.2 million in Q2-21/22, while the revenues declined by 46.5% from SAR 35 million.
