RED SEA INTERNATIONAL-

Red Sea International Company posted a 30.6% y-o-y decline in net income to SAR 6.4 mn in 2Q 2025 due to lower gross margins and higher finance costs, it said in a disclosure to Tadawul. However, revenue increased 3.7% y-o-y to SAR 779.2 mn during the quarter as the company met performance and project completion targets.

On a 1H basis, the company’s bottom line swung back to the black with SAR 1.9 mn in net income, compared to a loss of SAR 2.8 mn in the same period a year earlier. Revenue grew 4.9% y-o-y to SAR 1.5 bn in the first half of the year.

EMAAR THE ECONOMIC CITY-

Emaar The Economic City narrowed its net loss position to SAR 44 mn in 2Q 2025 from SAR 342 mn, mainly due to higher project revenues and a SAR 243 mn gain from bank debt restructuring, it said in a disclosure to Tadawul. Revenue jumped 55.3% y-o-y to SAR 118 mn during the quarter, boosted by increased sales of residential lands and units, new lease contracts, higher hospitality income, and higher student enrollment in the education sector.

In the first half of the year, the company’s net loss narrowed to SAR 167 mn, while its revenue jumped 114.7% y-o-y to SAR 322 mn.

Tags: