Riyadh – Mubasher: Alwasail Industrial Company achieved net profits valued at SAR 13.22 million for the first half (H1) of 2026, representing a 21.53% decrease from the SAR 16.84 million a year earlier.
The company attributed the half-year decline to a 23% drop in sales, which fell to SAR 171.60 million. Management cited project delays, raw material price volatility driven by regional geopolitical conditions, and a strategic shift toward cash-only sales as primary factors for the lower revenue.
In the second quarter (Q2), however, net profit surged by 130.74% year-on-year (YoY) to SAR 8.23 million from SAR 3.57 million. This quarterly growth was achieved despite a 32.64% decline in quarterly revenue to SAR 78.28 million.
The company noted that profitability improved due to gross profit margins rising to 29.60% from 21.10% in the previous quarter, alongside a 51.70% reduction in selling and marketing expenses through cost rationalization.
Operating profit for the six-month period reached SAR 17.99 million, a 7.39% YoY decrease. Total shareholders' equity stood at SAR 377.54 million as of 30 June 2026, up 3.28% from SAR 365.54 million a year earlier.
Earnings per share (EPS) for H1-26 were SAR 0.05, compared to SAR 0.07 in the prior-year period.
The company recently named Mohammed bin Saleh Al Musheigeh as its new CEO.
