Riyadh - Mubasher: Al Majed for Oud Company generated net profits amounting to SAR 26.80 million for the second quarter (Q2) of 2026, reflecting an annual increase of 10.28% from SAR 24.30 million.
The fragrance retailer attributed the growth to a 4.02% rise in quarterly revenue, which reached SAR 217.10 million compared to SAR 208.70 million a year earlier.
The company cited branch network expansion and higher online sales as primary drivers for the improved performance.
For the first half (H1) of 2026, net profit reached SAR 136.90 million, representing a 5.71% decrease from SAR 145.20 million in the prior-year period. Total revenue for the half-year period hiked by 5.89% to SAR 655.30 million.
The company noted that the year-on-year decline in half-year profit was primarily due to expansion costs at strategic locations and administrative expenses related to acquisition consultants.
Quarterly performance showed a 75.65% decline in net profit compared to the SAR 110.10 million recorded in Q1-26.
Management attributed this sequential drop to seasonal factors, noting that the Q1 included the high-sales Ramadan period, whereas the Q2 coincided with the Hajj season.
Total shareholders' equity stood at SAR 617.70 million as of 30 June 2026.
