Al Kathiri Holding loses SAR 43.89M in 9M 2026, SAR 10.62M in Q3

Al Kathiri Holding Co., which sells and produces ready-mix concrete, reported net losses of SAR 43.89 million for the first nine months of 2026, compared with losses of SAR 17.44 million a year before.

The company attributed the increase in losses to a 58.82% decline in revenue to SAR 77.73 million from SAR 188.75 million in Q3 2025. This was due to a SAR 65.99 million decrease in contracting revenue, a SAR 30.95 million decline in concrete sales, and a SAR 9.78 million drop in cement sales. It also reported a SAR 5.46 million decrease in concrete panel sales, despite higher sales of aggregates and washed sand.

As a result, the company swung from a gross profit of SAR 6.70 million to a gross loss of SAR 12.47 million.

The company also recognized a SAR 3.71 million provision for expected credit losses, a SAR 0.75 million provision for slow-moving and obsolete inventory, and Zakat expenses of SAR 3.76 million.

In addition, financing costs increased by SAR 0.81 million and general and administrative expenses rose by SAR 0.21 million. The company also recorded no deposit income, compared with SAR 0.22 million in the same period last year.

These factors were partially offset by a SAR 1.80 million decrease in selling and marketing expenses and a SAR 0.22 million increase in other income.

Al Kathiri also cut Q3 2026 net losses to SAR 10.62 million, from SAR 4.36 million in Q3 2025, due to a 66.24% decline in revenue to SAR 23.98 million from SAR 71.03 million.

The company had reported SAR 22.78 million in Q2 2026.

Shareholders' equity, after minority interest, stood at SAR 11.52 million as of Sept. 30, 2026, compared with SAR 89.35 million a year earlier.

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