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Marina reports Q2 loss of 22.9M Riyals
Flexible Financing Company reduced its losses in the second quarter of 2026 to 22.87 million Riyals, representing a 551.7% increase compared to the same period last year, when the loss was 1.24 million Riyals. The company attributed the increased losses to a 27.26% year-over-year decline in revenues, along with accumulated impairment losses on the financing portfolio and the suspension of revenue recognition from non-performing loans. Additionally, the company recorded a net loss of 26.38 million Riyals in the first half of the year, compared to a profit of 2.98 million Riyals a year earlier. Revenues decreased by 18.94% to 85.23 million Riyals, operating profit turned into a loss of 27.15 million Riyals, and shareholders’ equity continued to decline, reaching 802.96 million Riyals.
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