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Mayar's H1 losses reach 27.6M riyals
Mayar Holding Company reported net losses of 27.59 million Riyals in the first half of 2026, marking an 80.8% increase compared to the same period last year. However, the company offset all its accumulated losses thanks to financial support from its major shareholder, Taya Holding Company, which forgave its debts totaling 84.4 million Riyals. This move boosted the company's equity by 86.5% to 53.71 million Riyals. Revenue declined by 9.8% to 169.24 million Riyals due to geopolitical disruptions affecting the elevator and plastics sectors, while sales in the poultry sector grew by 8%. The value of signed contracts in the elevator sector increased by 56%, though profit margins in the feed and poultry sectors were impacted, and selling and distribution expenses rose.
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