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Kyane's Q2 Losses Reach 672.7M Riyals
The preliminary financial results of Yanbu National Petrochemical Company ("Yansab") showed a 35.5% year-over-year increase in its quarterly losses for the second quarter of 2026, reaching approximately 672.8 million Riyals. The company's revenues declined by 10% compared to the same period last year, due to a decrease in sold quantities resulting from supply chain challenges, despite higher selling prices. For the first half of the year, the company's losses increased by 1.2%, amounting to 1.28 billion Riyals, even though administrative expenses decreased. The rise in losses is attributed to higher input costs and reduced sales volumes, with accumulated losses totaling 7.18 billion Riyals, representing 48% of its capital.
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