Mayar fully offsets accumulated losses

Logo of Mayar Holding Co.

Mayar Holding Co. offset its accumulated losses, which stood at15.46% or SAR 9.28 million of capital, as of June 30, 2024, reporting retained earnings of SAR 1.18 million as of Dec. 31, 2024.

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In a statement to Tadawul, the company cited improvement in its operational and financial performance during the current fiscal year.

The executive management, under the guidance of the board of directors, is working to enhance operational efficiency and optimize costs to increase profitability, the statement added.

Mayar reported a net profit of SAR 9.96 million in H2 2024, representing 16.6% of capital.

According to data available on Argaam, Mayar reported a net profit of SAR 17.2 million before deducting minority interest in 2024, against losses of SAR 41.9 million before deducting minority interest a year earlier.

To view the audit report that shows the company’s financial position after offsetting losses: