Saudi marketing firm Tihama losses narrow by 18.1% on pandemic recovery

RIYADH: Saudi Tihama Advertising and Public Relations Co., saw its losses shrink by 18 percent in the last nine months of 2021.

Net losses reached SR30.6 million ($8.16 million) compared to SR37.4 million a year earlier, according to a bourse filing.

This was mainly due to an increase in gross profit of approximately SR6.9 million, led by the retail sector, the company said.

Tihama said the narrowing of losses was also because of the new branches they opened,  and the gradual recovery from the pandemic that hit the advertising industry.