Riyadh - Mubasher: Arabian Centres Company (Cenomi Centers) logged net profits valued at SAR 588.20 million for the first half (H1) of 2026, marking an annual drop of 14.73%.
The decline in bottom-line performance was primarily driven by higher finance costs, which rose to SAR 436.60 million, and a reduction in other operating income following one-off land sale gains in the previous year.
Total revenue for H1-26 reached SAR 1.15 billion, a 1.82% decrease year-on-year (YoY), though the company noted that like-for-like revenue grew by 2.70%.
Operating profit improved by 2.02% to SAR 1.05 billion, supported by a 73% reduction in impairment losses on receivables.
Earnings per share (EPS) for the half-year period stood at SAR 1.24.
Operational metrics remained robust as the company recorded a record 70 million visitors during the period, a 6.80% increase. Like-for-like occupancy hit 91.20% as of 30 June 2026.
During Q2, the company reported a net profit of SAR 385.70 million on revenues of SAR 569.40 million.
Cenomi Centers confirmed that its Westfield Jeddah project transitioned to the operational phase on 30 July 2026, with a pre-leasing rate of 96%.
Construction at Westfield Riyadh reached 100% completion, with operations expected to commence in Q4-26.
