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2026-11-02T14:09:44.834Z

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Shams Q3 loss: 3.6m

Shams Q3 loss: 3.6m

Shams Tourism Projects Company reported a net loss of SAR 3.6 million in the third quarter of 2026, compared with SAR 363,000 in the same period a year earlier—an increase of 889.97%. The company attributed the widening loss to a decline in the fair value of financial assets and lower Murabaha returns, despite a 75.83% rise in sales to SAR 2.77 million, driven by intensified sales efforts and the opening of new marketing channels. In the first nine months of the year, losses rose 197.7% to SAR 10.13 million, while revenue grew 5.65% year on year.

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