Thimar Development Holding Co. narrowed net losses by 33.4% to SAR 2.5 million in the first half of 2021, from SAR 3.7 million a year earlier.
| Item | 6m 2020 | 6m 2021 | Change |
|---|---|---|---|
| Revenues | 1.15 | 0.43 | (62.9 %) |
| Gross Income | 0.05 | 0.04 | (25.5 %) |
| Operating Income | (3.98) | (2.97) | 25.4 % |
| Net Income | (3.69) | (2.46) | 33.4 % |
| Average Shares | 14.88 | 14.88 | - |
| EPS (Riyals) | (0.25) | (0.17) | 33.4 % |
Losses decreased as the company reported a decline in general and administrative (G&A) expenses, as well as better other income during the period.
| Item | Q2 2020 | Q2 2021 | Change |
|---|---|---|---|
| Revenues | 0.37 | - | - |
| Gross Income | 0.00 | - | - |
| Operating Income | (1.91) | (1.41) | 26.1 % |
| Net Income | (1.75) | (1.13) | 35.3 % |
| Average Shares | 14.88 | 14.88 | - |
| EPS (Riyals) | (0.12) | (0.08) | 35.3 % |
| Item | Q1 2021 | Q2 2021 | Change |
|---|---|---|---|
| Revenues | 0.43 | - | - |
| Gross Income | 0.04 | - | - |
| Operating Income | (1.56) | (1.41) | 9.7 % |
| Net Income | (1.33) | (1.13) | 14.9 % |
| Average Shares | 14.88 | 14.88 | - |
| EPS (Riyals) | (0.09) | (0.08) | 14.9 % |
In Q2 2021, net losses narrowed by 35.3% to SAR 1.1 million, from SAR 1.75 million in H1 2020, thanks to lower G&A and higher other income.
Sequentially, Thimar’s losses decreased by 14.8% from SAR 1.3 million.
Shareholders’ equity, after minority interest, stood at SAR 33.932 million as of June 30, 2021, down from SAR 44.382 million in the prior-year period.
The company said the accumulated losses as of June 30, 2021, amounted to SAR 68.951 million, or 68.95% of the capital.
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