Riyadh — Mubasher: Time Entertainment Company recorded an annual plunge of 94.40% in net loss to SAR 110,465 during the first six months (6M) of 2026 compared to SAR 1.98 million a year earlier.
The company attributed the 94.41% improvement in bottom-line performance to a sharp increase in revenues and management’s cost-control measures.
Revenue for the period hiked by 72.05% to SAR 18.24 million during the first half (H1) of 2026 from SAR 10.60 million in H1-25. This growth was driven by the execution of projects awarded in late 2025 and new contracts secured during the current period, including a major project valued at SAR 7.90 million.
Loss per share improved to SAR 0.11 from SAR 1.98.
Despite the improved performance, the external auditor highlighted a material uncertainty regarding the company's ability to continue as a going concern.
Accumulated losses reached SAR 4.97 million, representing 49.7% of capital. Total shareholders' equity decreased by 55.34% to SAR 5.70 million.
Management stated that cost restructuring and a positive working capital of SAR 5.40 million provide sufficient resources to maintain operations.
