Riyadh — Mubasher: Thimar Development Holding Company posted a net loss of SAR 7.83 million in the first nine-month (9M) period of 2026, representing a 12.03% increase in losses compared to the SAR 6.99 million loss recorded in 9M-25.
The company reported zero revenue for both the current and prior periods, according to a bourse disclosure.
The loss per share widened to SAR 1.20 in 9M-26 from SAR 1.07 in 9M-25.
Accumulated losses reached SAR 98.61 million as of 30 September 2026, which accounted for 151.71% of the company's capital.
The independent auditor highlighted a material uncertainty regarding the group's ability to continue as a going concern.
However, because the company is undergoing a financial reorganization procedure initiated in April 2021, it remains exempt from certain Companies Law provisions regarding capital loss thresholds under Article 45 of the Bankruptcy Law.
In the third quarter (Q3) of 2026, Thimar posted a net loss of SAR 2.01 million, a reversal from the SAR 1.91 million net profit achieved in Q3-25.
The company attributed the quarterly shift to a SAR 7.06 million drop in other income, despite a SAR 3.14 millon reduction in general and administrative expenses achieved through operational cost-cutting and the suspension of board bonuses.
