On 2026-08-11 09:36:05 (Saudi Time), Al Gassim Investment Holding Co. announced its Interim financial results for the six months ended on June 30, 2026.

Year-on-Year Performance Drivers

For the six-month period ending June 30, 2026, sales/revenue declined 20.077% YoY from SAR 4.64 (currency not specified in original) to SAR 3.71 (currency not specified in original) Let me redo this properly with correct figures and currency handling. The figures are in Saudi Arabia Riyals (SAR), stated as "Actual," so I divide by 1,000,000 for millions. - Current Period Sales: 3,705,844 ÷ 1,000,000 = SAR 3.71 million - Prior Period Sales: 4,636,802 ÷ 1,000,000 = SAR 4.64 million - Current Period Net Profit: 736,853 ÷ 1,000,000 = SAR 0.74 million - Prior Period Net Loss: -3,327,044 ÷ 1,000,000 = SAR -3.33 million The currency is explicitly stated as Saudi Arabia Riyals in the table footer. Sales/revenue declined 20.077% YoY to SAR 3.71 million (from SAR 4.64 million) for the six-month period ending June 30, 2026, primarily due to a decrease in finance income from lease contracts and a decline in rental value. Net profit swung to SAR 0.74 million from a net loss of SAR -3.33 million in the corresponding prior period, driven by the absence of losses on disposal of assets held for sale and no expected credit loss provision in the current period, which had weighed heavily on the prior year. Additional contributors to the profit recovery included lower general and administrative expenses, reduced cost of revenues, and the recognition of dividend income from financial assets measured at fair value through other comprehensive income, partially offset by lower operating revenues and other income, reduced dividends from financial assets at fair value through profit or loss, and higher zakat expense.

Quarter-on-Quarter Performance Drivers

QoQ revenue was virtually flat at SAR 1.85 million (vs. SAR 1.85 million prior quarter, ~0% change), as the company reported no meaningful change in revenues between the two quarters. Net profit attributable to shareholders rose 32.252% QoQ to SAR 0.42 million (from SAR 0.32 million), primarily driven by the recognition of dividends from financial assets measured at fair value through profit or loss and dividends from financial assets measured at fair value through other comprehensive income — neither of which was recognized in the previous quarter. This improvement was further supported by a decrease in general and administrative expenses, partially offset by a decline in other income.

Other Items

The external auditor issued an unmodified conclusion on the condensed interim financial statements for the six-month period ended June 30, 2026. Under the "Other Matter" paragraph, the auditor noted that the company's financial statements for the year ended December 31, 2025 were audited by another auditor, who expressed an unmodified opinion on those financial statements on Shawwal 12, 1447 AH (corresponding to March 31, 2026); additionally, the condensed interim financial statements for the three-month and six-month periods ended June 30, 2025 were reviewed by another auditor, who expressed an unmodified conclusion on those statements on Safar 19, 1447 AH (corresponding to August 13, 2025). No accumulated losses were reported. Some comparative figures have been reclassified to conform with the presentation of the interim condensed financial statements for the current period. Total shareholders' equity (after deducting minority equity) stood at SAR 311,054,010 as of the current period, compared to SAR 303,331,857 in the same period of the prior year, reflecting a 2.545% increase. Earnings per share for the current period were SAR 0.025, compared to a loss per share of SAR -0.111 in the corresponding prior period.

Original announcement:

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