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Fakharia's Q2 losses hit 19.29M Riyals
The results of the Saudi Ceramic Pipe Manufacturing Company reveal an increase in its losses for the second quarter of 2026, totaling 19.29 million Saudi Riyals compared to 11.46 million Riyals in the same period last year, representing a 68.32% rise in quarterly losses. This decline is attributed to a 17.62% decrease in sales, increased operating expenses, provisions for credit losses, and reduced demand for its products, amid weak financial and economic performance during the period. Additionally, the company recorded an increase in its accumulated losses, which reached 104.57 million Riyals, constituting 69.71% of its share capital. This indicates a material doubt regarding its continued financial viability due to prior losses in the value of assets and properties.
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