Latest news with #MorabahaMarina
Zawya
3 days ago
- Business
- Zawya
Saudi: Morabaha Marina Financing sees 29.5% lower profits in Q1-25
Riyadh – Morabaha Marina Financing Company posted 29.56% lower net profits at SAR 2.67 million in the first quarter (Q1) of 2025, compared to SAR 3.80 million in Q1-24. The revenues hiked by 17.86% to SAR 52.80 million as of 31 March 2025 from SAR 44.79 million a year earlier, according to the financial results. Earnings per share (EPS) stood at SAR 0.06 in Q1-25, down year-on-year (YoY) from SAR 0.07. Quarterly, the Q1-25 net profits shrank by 66.86% from SAR 8.08 million in Q4-24, while the revenues declined by 4.89% from SAR 55.51 million. During the 12-month period that ended on 31 December 2024, Morabaha Marina Financing witnessed an annual drop of 26.57% in net profit to SAR 22.74 million, compared to SAR 30.96 million. All Rights Reserved - Mubasher Info © 2005 - 2022 Provided by SyndiGate Media Inc. (
Argaam
18-05-2025
- Business
- Argaam
MRNA trading suspended over delayed financial disclosure
The Saudi Exchange (Tadawul) placed a one-session trading halt on shares of Morabaha Marina Financing Co. (MRNA) on May 18. The suspension followed MRNA's failure to disclose its financial statements for the period ending March 31, 2025, within the deadline set by the Rules on the Offer of Securities and Continuing Obligations. Trading in MRNA shares is set to resume on May 19 for 20 trading sessions. The company is required to publish its financial results by June 19. If MRNA fails to release the financial statements by the June 19 deadline, Tadawul will impose another trading halt starting June 22, which will remain in place until the disclosure is made. MRNA attributed the delay to the transition from its previous external auditor to PricewaterhouseCoopers Professional Services, which has slowed the completion of the financial review process, according to data compiled by Argaam.
Argaam
15-05-2025
- Business
- Argaam
MRNA delays Q1 2025 results due to auditor change
Morabaha Marina Financing Co. (MRNA) stated that it will not be able to release its preliminary financial results for the three-month period ended March 31, 2025, within the statutory deadline. The delay is due to the change from its former external auditor to PricewaterhouseCoopers Professional Services, which hindered the completion of the review process of the financials. The company is working with the new auditor to complete the necessary procedures, and the financial statements are expected to be released by May 29, 2025. MRNA stressed its commitment to complying with all applicable laws and regulations and will disclose the results immediately upon approval. The preliminary statements will be published as soon as they are received and signed off by the authorized parties, it added. The company will be subject to trading suspension procedures under listing rules and will issue monthly updates on the delay, along with prompt disclosure of any material developments.
