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International Waves posts 87.8M riyal loss
Amwaj International Company incurred a net loss of 87.8 million riyals in 2025, compared to a profit of 6.36 million riyals in the previous year. The main reason for the losses is a 7.88% decline in revenues, which fell to 276.61 million riyals, along with the formation of a credit loss provision of 47.12 million riyals and inventory differences amounting to 28.67 million riyals due to the discovery of discrepancies at one of its branches. Additionally, general and administrative expenses and company financing impacted its results. The accumulated losses stand at 28.02 million riyals, approximately 47% of the capital, which totals 60 million riyals, resulting from accumulated losses related to inventory differences and provisions. The company is undertaking procedures to collect outstanding receivables and improve inventory management, and continues to work on a corrective plan to ensure the stability of its financial position.
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