Time cuts losses by 94% in early 2026
Time Events Company (Time) announced its preliminary financial results for the first half of 2026, reporting a reduction in net losses of over 94%. This improvement was supported by a strong increase in revenues, which reached 18.24 million SAR, representing a 72.05% increase compared to the previous year, driven by the execution of new projects and increased business activities. On the other hand, the company faced challenges related to a 55.34% decline in equity and accumulated losses amounting to approximately 49.7% of capital. The auditors issued a warning regarding the potential continuation of these conditions. Despite this, management confirmed that their cost-cutting and restructuring plans provide sufficient financial resources to sustain operations.
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