Riyadh - Mubasher: Retal Urban Development Company logged net profit valued at SAR 42 million, lower by 68.726% year-on-year (YoY) than SAR 134.30 million.
Half-year revenue grew 14.26% to SAR 1.20 billion, backed by a 15% increase in development contract revenue, according to the financial results.
Earnings per share (EPS) hit SAR 0.08 in the first six months (6M) of 2026, down from SAR 0.27. Total shareholders' equity rose by 16.25% to SAR 1.05 billion.
In the second quarter (Q2) of 2026, the net loss reached SAR 17.20 million, compared to net profits of SAR 66.10 million during the same period in 2025.
The loss occurred despite a 28.72% YoY increase in quarterly revenue, which reached SAR 628.70 million.
The company attributed the quarterly loss to a combination of factors, including a rise in operating costs related to strategic business development and marketing activities.
Additionally, Retal recognized higher costs associated with the final stages of several projects and noted a decrease in its share of profits from associates. Operating profit for the quarter fell by 58.72% to SAR 24.60 million.
At the end of March 2026, the net profits declined by 12.92% YoY to SAR 59.30 million from SAR 68.10 million.
