Riyadh — Mubasher: Waja Company incurred a net loss of SAR 2.71 million in the first half (H1) of 2026, reversing a net profit of SAR 1.49 million recorded during the same period in 2025, according to a bourse disclosure.
The company attributed the downturn to a combination of declining revenues, lower profit margins, and the formation of credit loss provisions.
Revenue for the period reached SAR 48.07 million, representing a 5.97% decrease from the SAR 51.13 million generated in H1-25.
Waja stated that this SAR 3.05 million drop in turnover was primarily driven by a reduction in the volume of existing projects and a decline in new contracts awarded during the period.
Loss per share stood at SAR 0.039 in H1-26, against earnings per share (EPS) of SAR 0.021 in the corresponding period of 2025.
Total shareholders' equity, excluding non-controlling interests, saw a marginal increase of 0.34% to reach SAR 102.99 million as of 30 June 2026, slightly up from SAR 102.64 million a year earlier.
The external auditor's report was issued with an unmodified opinion.
