Riyadh — Mubasher: Almujtama Alraida Medical Company reported a net loss of SAR 4.92 million during the first half (H1) of 2026, a significant reversal from the SAR 4.26 million net profit recorded in H1-25.
The company’s loss per share stood at SAR 0.52 in H1-26, compared to earnings per share (EPS) of SAR 0.45 a year earlier.
Revenues for the period fell by 21.57% to SAR 184.33 million in January-June 2026 from SAR 235.02 million in the same half a year earlier, according to a bourse filing.
Almujtama Medical attributed the annual decline in revenue to policy changes by its largest credit customer and the entry of new competitors, including discounters, into the sector.
Gross profit subsequently dropped by SAR 7.40 million to reach SAR 67.90 million in H1-26.
Operating expenses rose by SAR 3.20 million in H1-26, driven by expansion activities and costs associated with closing loss-making branches.
Additionally, the company noted a SAR 1 million increase in financial costs, primarily related to lease liabilities and bank facilities.
Total shareholders' equity, excluding non-controlling interests, decreased by 2.37% to SAR 139.02 million.
It is worth noting that despite the losses, the independent auditor’s report was issued with an unmodified opinion.
In July 2026, Almujtama Medical elected a new board of directors for the upcoming term until 2030.
