Riyadh – Mubasher: Thimar Development Holding Company reported net losses after Zakat and tax of SAR 2.49 million in the first nine months (9M) of 2023, versus a net profit of SAR 76,276 in the same period of 2022.
The listed entity recorded a loss per share of SAR 0.25 in 9M-23, compared to earnings per share (EPS) of SAR 0.01 in 9M-22.
Meanwhile, the operating losses deepened by 8.46% to SAR 4.05 million during January-September 2023 when compared with SAR 3.73 million in the same period a year earlier.
Income Statements for Q3-23
In the third quarter (Q3) of 2023, the Saudi firm registered a 41.14% YoY decrease in net loss after Zakat and tax to SAR 774,245 from SAR 1.31 million.
The operating losses rose by 4.14% on an annual basis to SAR 1.37 million during July-September 2023, compared to SAR 1.31 million.
On a quarterly basis, the Q3-23 net loss declined by 40.53% from SAR 1.30 million in Q2-23, while the operating losses shrank by 2.83% from SAR 1.40 million.
Accumulated Losses
Thimar unveiled that its accumulated losses reached SAR 233.82 million as of 30 September 2023, which represented 233.82% of the SAR 100 million capital. The registered amount was slightly higher than the SAR 232.77 million accumulated losses reported as of 30 June this year,
In the first half (H1) of 2023, the company swung to a net loss of SAR 1.56 million.
