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Thimar suffers SAR 4m losses in Q2

Thimar suffers SAR 4m losses in Q2
Net losses after zakat and tax hiked by 432.7% in Q2-19
THIMAR
4160
-0.63% 18.86 -0.12

Riyadh – Mubasher:  National Agricultural Marketing Company (Thimar) reported its interim financial results for the second quarter of 2019.

Net losses after zakat and tax hiked by 432.7% to SAR 3.75 million in Q2-19, compared to SAR 705,595 in Q2-18, according to a bourse filing on Wednesday.

Revenues of the Saudi-based company retreated by 10.37% to SAR 16 million during the three-month period ended June, from SAR 17.8 million in the same period of the prior year.

For the first half of 2019, Thimar turned to losses recording SAR 5.9 million, against profits of SAR 770,635 in H1-18.

The company generated SAR 38.47 million in revenues by in H1-19, down 7.09% from SAR 41.41 million in H1-18.

Loss per share stood at SAR 0.594 by the end of June, versus profit per share of SAR 0.077 in the same period of the prior year.