Riyadh – Mubasher: Knowledge Economic City reported net losses valued at SAR 17.26 million in the first quarter (Q1) of 2025, an annual increase of 27.07% from SAR 13.58 million.
The group generated 578.34% year-on-year (YoY) higher revenues at SAR 50.99 million in Q1-25, compared to SAR 7.51 million, according to the interim financial results.
The revenue growth was mainly due to selling residential units from one of the company's new residential projects.
Loss per share amounted to SAR 0.05 as of 31 March 2025, versus SAR 0.04 in Q1-24.
Quarterly, the company turned into net losses in Q1-25 when compared to net profits of SAR 26.66 million in Q4-24, while the revenues shrank by 54.80% from SAR 112.83 million.
Knowledge Economic City suffered accumulated losses totaling SAR 423.49 million as of 31 March 2025, accounting for 12% of the capital.
At the end of December 2024, the Tadawul-listed firm recorded a 54% YoY plunge in net loss to SAR 20.95 million, compared to SAR 45.55 million.
