Saudi Tihama’s unit to make documentary on coronavirus

The deal carries a maturity period of 50 days

  

Riyadh –  A subsidiary of Tihama Advertising and Public Relations Company has signed a contract on 23 May 2020 to produce a documentary about the coronavirus (COVID-19) in collaboration with the Saudi Ministry of Media.

The deal is valued at SAR 1.5 million and carries a maturity period of 50 days, according to a stock exchange statement on Sunday.

The material impact of the contract will reflect on the financial reports for the second quarter (Q2) of 2020.

It is noteworthy that in the first nine months of fiscal year (FY) 2019/2020, Tihama incurred SAR 10.8 million in losses, against a net profit of SAR 8.7 million recorded a year earlier.

Source: Mubasher

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