Riyadh – Mubasher: Naseej International Trading Company suffered net losses valued at SAR 25.40 million in the first half (H1) of 2026, compared to net profits of SAR 7.67 million a year earlier.
The company’s revenues fell by 81.46% to SAR 8.46 million from SAR 45.63 million in the prior-year period.
In the second quarter (Q2) of 2026, the company posted a net loss of SAR 14.61 million, compared to a net profit of SAR 16.32 million in Q2-25. Quarterly revenue dropped by 81.35% to SAR 3.61 million.
Management attributed the downturn to lower production volumes caused by liquidity constraints and the absence of non-recurring profits recorded in the previous year.
Additionally, the company recognized a SAR 1 million expected credit loss provision during the current quarter.
The company disclosed that accumulated losses have reached SAR 119.36 million, or 109.53% of its capital.
Auditors issued a qualified opinion, noting material uncertainty regarding the company's ability to continue as a going concern, as current liabilities exceeded current assets by SAR 60.32 million.
Naseej International stated it will now be subject to Capital Market Authority (CMA) procedures for listed companies with accumulated losses exceeding 20% of capital.
