Riyadh – Mubasher: The net loss of Tihama Advertising and Public Relations Company declined by 54.89% to SAR 14.57 million during the first nine months (9M) of fiscal year (FY) 2024/2025, compared to SAR 32.31 million in 9M-23/24.
Meanwhile, the revenues hit SAR 57.60 million in April-December 2024, up 1.04% from SAR 57 million in the same period a year earlier, according to the financial results.
Tihama attributed the marginal increase in revenue during 9M-24/25 to a growth in the retail and education sectors.
The loss per share stood at SAR 0.35 in 9M-24/25, down from SAR 0.80 in 9M-23/24.
Accumulated Losses
Tihama recorded SAR 173.97 million worth of accumulated losses as of 31 December 2024.
The amount represented 43.49% of the company’s SAR 400 million capital.
Third Quarter ended in December 2024
During the third quarter (Q3) of FY24/25, Tihama registered a net loss amounting to SAR 8.08 million, marking a 42.91% decline from SAR 14.16 million in Q3-23/24.
Revenue dropped by 37.75% to SAR 11.93 million in Q3-24/25, compared to SAR 19.17 million in the same period a year earlier.
On a quarterly basis, the company shifted to net losses in Q3-24/25 against net profits worth SAR 859.33 million in Q2-24/25, while the revenue fell by 65.49% from SAR 34.58 million.
Earlier in the first half (H1) of FY24/25, Tihama registered a net loss of SAR 6.48 million, lower by 64.24% than SAR 18.14 million in H1-23/24.
Meanwhile, the company’s revenue rose by 20.61% year-on-year (YoY) to SAR 45.66 million in the six months period that ended on 30 September 2024 from SAR 37.83 million.
The loss per share declined to SAR 0.16 in H1-24/25, compared with SAR 0.45 in the same period a year earlier.
