Tihama Advertising and Public Relations Co. reported net loss of SAR 31.7 million for the nine months ending Dec. 31, 2020, widening by more than two-fold year-on-year (YoY), driven by lower gross profit, and decreased revenue over the COVID-19 outbreak.
The company narrowed the third-quarter net losses to SAR 14.6 million, due to lower gross margins of retail and bookstores segment, impacted by the COVID-19 outbreak.
| Item | 9m 2019 | 9m 2020 | Change |
|---|---|---|---|
| Revenues | 72.33 | 55.30 | (23.5 %) |
| Gross Income | 25.08 | 10.67 | (57.5 %) |
| Operating Income | (15.75) | (30.03) | (90.7 %) |
| Net Income | (12.91) | (31.67) | (145.4 %) |
| Average Shares | 17.01 | 18.90 | 11.1 % |
| EPS (Riyals) | (0.76) | (1.68) | (120.8 %) |
Tihama also cited the suspension of the school year season over the pandemic outbreak, in addition to higher general and selling expenses.
On a sequential basis, Q3 2020/2021 losses widened by 73.2%.
| Item | Q3 2019 | Q3 2020 | Change |
|---|---|---|---|
| Revenues | 17.32 | 12.33 | (28.8 %) |
| Gross Income | 4.14 | 2.28 | (44.9 %) |
| Operating Income | (11.66) | (16.21) | (38.9 %) |
| Net Income | (14.71) | (14.62) | 0.6 % |
| Average Shares | 17.01 | 18.90 | 11.1 % |
| EPS (Riyals) | (0.87) | (0.77) | 10.6 % |
| Item | Q2 2020 | Q3 2020 | Change |
|---|---|---|---|
| Revenues | 21.42 | 12.33 | (42.5 %) |
| Gross Income | 3.48 | 2.28 | (34.3 %) |
| Operating Income | (8.37) | (16.21) | (93.7 %) |
| Net Income | (13.95) | (14.62) | (4.8 %) |
| Average Shares | 18.90 | 18.90 | - |
| EPS (Riyals) | (0.74) | (0.77) | (4.8 %) |
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