Al-Masafi reports Q2 loss of 10.7M Riyals
The Saudi Refining Company’s results for the second quarter of 2026 showed a 58.51% decrease in net losses, amounting to 10.7 million riyals compared to 25.8 million riyals in the same period of the previous year. The decline is attributed to the increase in the market value of its investment portfolio, improved dividends from associate companies, as well as higher dividend distributions and a decrease in Zakat provisions. Additionally, the results for the first half of the year indicated a 79.01% reduction in losses, with the company recording a loss of 4.97 million riyals compared to losses of 23.71 million riyals in the same period last year. Revenues also improved to 1.31 million riyals from a negative 15.56 million riyals, reflecting an improvement in the company's financial performance and investment results.
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