Riyadh — Mubasher: Itmam Consultancy Company reported a 57.64% plunge in net profit to SAR 2.73 million during the first half (H1) of 2026 when compared to SAR 6.45 million in H1-25.
The company attributed the earnings compression to a significant drop in revenue and reduced profitability across executed projects, according to a bourse filing.
Total revenue for the period fell by 26.05% to SAR 24.36 million in H1-26 from SAR 32.94 million in H1-25.
Itmam Consultancy stated the decline was primarily driven by a decrease in the value of new projects, delays in completing contracting procedures for awarded tenders, and the postponement of project execution following contract signings.
Earnings per share (EPS) stood at SAR 0.13 in H1-26, down from SAR 0.31 a year earlier.
Despite the decline in profitability, total shareholders' equity increased by 18.69% to SAR 106.56 million in H1-26, compared to SAR 89.79 million in H1-25.
Meanwhile, the company’s external auditor issued an unmodified opinion on the financial statements.
