Retal posts Q2 loss of 17.2M Riyals
The article explains that Ryal Development Company (Riyadh Real Estate Development Company) shifted to recording a net loss of 17.2 million riyals in the second quarter of 2026, compared to a profit of 66.1 million riyals in the same period of the previous year. This change was due to lower sales, increased operating costs, a decline in the profits of affiliate companies, and higher costs for final projects. Despite this, revenues increased by 28.73% year-over-year to 628.7 million riyals, supported by development contracts and new projects. For the first half of the year, net profit fell by 68.73% to 42 million riyals, despite revenues rising to 1.206 billion riyals. Operating profits and gross profit declined, while shareholders' equity grew by 16.26%. Meanwhile, earnings per share decreased to 0.08 riyals.
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