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Al-Masafi reports Q2 losses of 10.7M Riyals
Saudi Arabia Refining Company (SARCO) reported a significant reduction in net losses for the second quarter of 2026, decreasing by 58.51% to reach 10.7 million riyals compared to 25.8 million riyals in the same period last year. The decline was driven by an increase in the market value of its investment portfolio, improved earnings from affiliated companies, higher dividend distributions, and a reduction in Zakat provisions. For the first half of 2026, losses decreased by 79.01%, recording a net loss of 4.97 million riyals, compared to losses of 23.71 million riyals in the same period of 2025. Additionally, revenues improved to 1.31 million riyals from negative revenues in the previous year.
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