Riyadh - Mubasher: Al Hassan Ghazi Ibrahim Shaker Company (Shaker Group) posted 73.28% decline in net profit to SAR 5.32 million during the second quarter (Q2) of 2026, compared to SAR 19.90 million in Q2-25.
The company attributed the result to a 7.54% decrease in quarterly revenues, which totaled SAR 340.97 million, primarily driven by the timing and phased execution of projects within the heating, ventilation, and air conditioning (HVAC) segment.
In the first half (H1) of 2026, net profit reached SAR 29.60 million, representing a 37.17% decrease compared to SAR 47.10 million in H1-25. Operating profit fell by 29.40% to SAR 31.61 million.
Despite the decline in earnings, the company noted a significant improvement in cash management, with net operating cash flows rising to SAR 122.20 million from SAR 13.10 million a year earlier.
Inventory levels were reduced by 26.90% to SAR 313 million as of 30 June 2026, reflecting a strategic focus on working capital optimization.
Earnings per share (EPS) for the six-month period stood at SAR 0.44, down from SAR 0.71 in the prior year. Total shareholders' equity increased y 7.94% to reach SAR 882.77 million.
