Riyadh — Mubasher: Keir International Company announced its interim financial results for the six-month period ended on 30 June 2026, reporting a significant narrowing of its net loss to SAR 11.84 million from SAR 35.69 million in H1-25.
The 66.83% reduction in losses was driven by improved project execution and a 6.78% increase in revenues, which reached SAR 76.01 million.
The company achieved a gross profit of SAR 9.90 million, reversing a gross loss of SAR 6.80 million in H1-25. This turnaround was attributed to better cost management and higher completion rates on existing projects.
Additionally, general and administrative expenses decreased from SAR 15.90 million to SAR 15.30 million in H1-26, while the loss per share improved to SAR 0.10 from SAR 0.30 in H1-25.
Despite the operational improvement, Keir International reported accumulated losses of SAR 86.42 million, representing 72% of its capital.
The company cited historical provisions for doubtful accounts and high operating costs as primary factors. To address this, the board has recommended a capital restructuring plan, which may include a capital reduction to offset losses followed by a subsequent capital increase.
The company will appoint a financial advisor to oversee the restructuring process in accordance with Saudi market regulations for companies with accumulated losses exceeding 50% of capital.
