Al Gassim Investment Reports SAR 0.32M Net Profit in Three Months 2026
GACO 6020.SA | 0.00 |
On 2026-05-11 09:08:49 (Saudi Time), Al Gassim Investment Holding Co. announced its Interim financial results for the three months ended on March 31, 2026.
| Element List | Current Quarter | Similar quarter for previous year | %Change | Previous Quarter | % Change |
|---|---|---|---|---|---|
| Sales/Revenue | 1,852,921 | 2,318,401 | -20.077 | 2,318,401 | -20.077 |
| Gross Profit (Loss) | 1,666,085 | 1,895,313 | -12.094 | 2,100,979 | -20.699 |
| Operational Profit (Loss) | 194,006 | -4,079,809 | - | -484,484 | - |
| Net Profit (Loss) Attributable to Shareholders of the Issuer | 317,264 | -3,484,975 | - | 5,050,352 | -93.717 |
| Total Comprehensive Income Attributable to Shareholders of the Issuer | 317,264 | -3,484,975 | - | 4,847,014 | -93.454 |
| All figures are in (Actual) Saudi Arabia, Riyals | |||||
| Element List | Current Period | Similar period for previous year | %Change |
|---|---|---|---|
| Total Shareholders Equity (after Deducting Minority Equity) | 310,944,759 | 303,173,926 | 2.563 |
| Profit (Loss) per Share | 0.011 | -0.116 | |
| All figures are in (Actual) Saudi Arabia, Riyals | |||
| Element List | Amount | Percentage of the capital (%) | |
|---|---|---|---|
| Profit (Losses) Resulting From The Change In Investment Propertie’s Fair Value | - | - | |
| Accumulated Losses | - | - | |
| All figures are in (Actual) Saudi Arabia, Riyals | |||
Year-on-Year Performance Drivers
Sales declined 20.08% YoY to SAR 1.85 million due to decreased financing income from lease contracts and declining rental values. The company shifted from a net loss of SAR 3.48 million in the prior year to a net profit of SAR 0.32 million, primarily driven by the absence of asset disposal losses and expected credit loss provisions that impacted the previous year, along with reduced general and administrative expenses and lower cost of revenues despite decreased operating revenues.
Quarter-on-Quarter Performance Drivers
QoQ revenue declined 20.08% to SAR 1.85 million due to decreased financing income from lease contracts and declining rental values. Net profit dropped 93.72% to SAR 0.32 million from SAR 5.05 million in the previous quarter, primarily due to the absence of one-time gains that benefited the prior quarter, including zakat expense reversals, investment property revaluation gains, and financial asset revaluation gains. Despite lower revenue costs and administrative expenses in the current quarter, the significant reduction in other revenues and the lack of previous quarter's exceptional items drove the substantial profit decline.
Other Items
The external auditor issued an unmodified conclusion with no additional comments, disclaimers, or adverse opinions noted. No accumulated losses were reported, and total shareholders' equity increased 2.563% to SAR 310,944,759. Earnings per share improved from a loss of SAR 0.116 in the prior year to a profit of SAR 0.011 in the current quarter. Some comparative figures were reclassified to conform with current period presentation standards.
Original announcement:
https://www.saudiexchange.sa/wps/portal/saudiexchange/newsandreports/issuer-news/issuer-announcements/issuer-announcements-details/?anId=95231&anCat=1&cs=6020&locale=arImportant Notice: The announcement information and market data in this report are sourced directly from the Saudi Exchange (Tadawul). This summary is generated by Sahm’s proprietary AI model for informational purposes only. While we strive for accuracy, it should not be construed as financial advice or an investment recommendation.