Riyadh — Mubasher: Neft Alsharq Company for Chemical Industries incurred a net loss of SAR 3.99 million in the first half (H1) of 2026, representing a 109.21% increase in losses compared to the SAR 1.91 million posted in H1-25.
The company’s loss per share rose to SAR 0.16 in H1-26 from SAR 0.08 in H1-25, according to a bourse filing.
Total revenue for the period fell by 10.35% to SAR 31.96 million in January-June 2026 from SAR 35.65 million a year earlier.
Neft Alsharq attributed the revenue decline primarily to a SAR 4.65 million drop in export sales, particularly in African markets where revenue plummeted by 40%.
While domestic sales grew by SAR 1.40 million or 8.7%, the overall performance was hindered by geopolitical challenges and supply chain disruptions that impacted international shipping routes and trade flows.
The widening loss was further driven by increased maritime freight costs, limited shipping availability, and higher marketing and financing expenses.
Additionally, Neft Alsharq recorded an increase in expected credit loss provisions following a periodic evaluation of receivables.
Total shareholders' equity stood at SAR 42.45 million at the end of June 2026, reflecting a decrease of 7.64% from SAR 45.96 million in the previous year.
