Thamar's Q2 losses fall 47 percent

Thamar Development Holding Company announced its financial results for the second quarter of 2026, revealing a 47.04% year-over-year reduction in net losses, which amounted to 2.37 million riyals. This improvement was driven by investment gains and lower general expenses. The results also showed that the company realized investment profits of 858,000 riyals, and operating losses decreased by 63.86% to 1.47 million riyals. For the first half of 2026, losses declined to 5.82 million riyals, down by 34.6%, while equity dropped to 5.22 million riyals from 15.94 million the previous year. The company continues its financial restructuring procedures due to concerns about its ability to continue, as accumulated losses reached 149% of capital.

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