Thimar Development Holding Co. narrowed its net loss after Zakat and tax to SAR 1.3 million in Q1 2021, compared to SAR 1.9 million in the year-earlier period, due to lower selling and marketing expenses, and higher other income.
| Item | Q1 2020 | Q1 2021 | Change |
|---|---|---|---|
| Revenues | 0.78 | 0.43 | (45.2 %) |
| Gross Income | 0.05 | 0.04 | (30.0 %) |
| Operating Income | (2.07) | (1.56) | 24.8 % |
| Net Income | (1.94) | (1.33) | 31.7 % |
| Average Shares | 14.88 | 3.87 | (74.0 %) |
| EPS (Riyals) | (0.13) | (0.34) | (162.9 %) |
| Item | Q4 2020 | Q1 2021 | Change |
|---|---|---|---|
| Revenues | 1.30 | 0.43 | (67.2 %) |
| Gross Income | (3.62) | 0.04 | 101.0 % |
| Operating Income | (2.79) | (1.56) | 44.1 % |
| Net Income | (2.67) | (1.33) | 50.4 % |
| Average Shares | 14.88 | 3.87 | (74.0 %) |
| EPS (Riyals) | (0.18) | (0.34) | (90.9 %) |
On a sequential basis, net loss after Zakat and tax also shrank from SAR 2.67 million in Q4 2020, driven by a decrease in selling and marketing expenses.
Total shareholders’ equity, excluding minority interest, stood at SAR 35.062 million by the end of Q1 2021, compared to SAR 46.128 million in the year-earlier period.
Accumulated losses reached SAR 67.8 million, or 68% of capital, by the end of the first quarter.
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