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Al-Kathiri's Q2 losses reach 22.8M Riyals
Al Kathiri Holding Company recorded financial losses of 22.78 million riyals in the second quarter of 2026, representing a 276.61% increase compared to the same quarter of the previous year. The increase in losses is attributed to a 67.05% decline in revenues due to a decrease in business volume and delays in the execution of some projects in the contracting sector, along with higher operating expenses and provisions for credit losses. Additionally, the company's losses deepened in the first half of the year by 154.42%, reaching 33.3 million riyals compared to 13.08 million riyals in the same period of the previous year. The total accumulated losses so far amount to 103.37 million riyals, which is 91.46% of the company's share capital.
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