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Hatema's Q1 losses rise 157%
Tihama Advertising, Public Relations, and Marketing Company announced its financial results for the second quarter of 2026. The company experienced a 157% increase in net losses compared to the same quarter last year, recording a loss of 8.88 million riyals versus 3.45 million riyals in the previous year. Factors such as losses from financial assets, a decrease in accounts receivable, and a decline in revenue from certain sectors contributed to the increased losses, along with a 16.22% drop in operational revenue to 527,900 riyals. Additionally, the company recorded accumulated losses amounting to 63.6 million riyals, approximately 27.76% of its capital. The auditor issued a warning regarding the company's ability to continue as a going concern, citing negative cash flows and plans to liquidate subsidiaries and pursue investment expansions aimed at reducing losses and achieving future profits.
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