Riyadh – Mubasher:  Wafrah for Industry and Development Company announced a net loss of SAR 33.29 million for the second quarter (Q2) of 2026, representing a 115.167% increase in losses compared to the SAR 15.47 million in the same period last year.

The company attributed the deeper loss to higher expected credit loss provisions, fair value investment losses, and inventory impairment charges.

Quarterly revenue rose to SAR 24.32 million from SAR 9.41 million in the prior-year period, a growth of 158.45%. This increase was driven by higher sales volumes in the vegetable sector through private manufacturing contracts and improved capacity utilization.

However, competitive pressures and lower average selling prices in other segments partially offset these gains.

For the first half (H1) of 2026, the company reported a net loss of SAR 33.29 million, compared to SAR 11 million in H1-25. Total revenue for the six-month period fell to SAR 47.20 million from SAR 66.16 million.

Accumulated losses reached SAR 72.92 million, representing 31% of the company's capital.

Loss per share for the period stood at SAR 1.44, compared to SAR 0.48 a year earlier. Total shareholders' equity decreased to SAR 157.73 million.