Riyadh – Mubasher: The net losses of Saudi Company for Hardware (SACO) reached SAR 1.77 million for the second quarter (Q2) of 2026, compared to a net profit of SAR 5.08 million in Q2-25.
The retailer attributed the downturn to a 10.59% decline in quarterly revenue, which fell to SAR 226.53 million from SAR 253.37 million.
The company stated that the performance was impacted by weakening demand for seasonal products and logistics services, alongside the closure of one retail branch.
Operating profit for the quarter plummeted by 75.17% to SAR 2.85 million.
Results were further pressured by the absence of rental income following the sale of investment property last year and the booking of additional provisions.
For the first half (H1) of 2026, net profit reached SAR 240,000, a 97.63% decrease from SAR 10.15 million a year earlier.
Half-year results included a SAR 5.45 million exceptional amortization expense for an electronic platform and SAR 3 million in additional provisions.
Total shareholders' equity stood at SAR 357.45 million, while earnings per share (EPS) for the six-month period dropped to SAR 0.01 from SAR 0.28.
