Al Majed Oud Reports SAR 136.9M Net Profit in the Six Months 2026
ALMAJED OUD 4165.SA | 0.00 |
On 2026-08-05 08:04:16 (Saudi Time), Al Majed Oud Co. announced its Interim financial results for the six months ended on June 30, 2026.
| Element List | Current Quarter | Similar quarter for previous year | %Change | Previous Quarter | % Change |
|---|---|---|---|---|---|
| Sales/Revenue | 217.1 | 208.7 | 4.024 | 438.3 | -50.467 |
| Gross Profit (Loss) | 150.4 | 143.6 | 4.735 | 288.7 | -47.904 |
| Operational Profit (Loss) | 28.7 | 28.7 | - | 114.4 | -74.912 |
| Net Profit (Loss) Attributable to Shareholders of the Issuer | 26.8 | 24.3 | 10.288 | 110.1 | -75.658 |
| Total Comprehensive Income Attributable to Shareholders of the Issuer | 27.7 | 22.9 | 20.96 | 105.7 | -73.793 |
| All figures are in (Millions) Saudi Arabia, Riyals | |||||
| Element List | Current Period | Similar period for previous year | %Change |
|---|---|---|---|
| Sales/Revenue | 655.3 | 618.8 | 5.898 |
| Gross Profit (Loss) | 439.1 | 422.3 | 3.978 |
| Operational Profit (Loss) | 143.1 | 157.1 | -8.911 |
| Net Profit (Loss) Attributable to Shareholders of the Issuer | 136.9 | 145.2 | -5.716 |
| Total Comprehensive Income Attributable to Shareholders of the Issuer | 133.4 | 143.7 | -7.167 |
| Total Shareholders Equity (after Deducting Minority Equity) | 617.7 | 511.9 | 20.668 |
| Profit (Loss) per Share | 5.48 | 5.81 | |
| All figures are in (Millions) Saudi Arabia, Riyals | |||
| Element List | Amount | Percentage of the capital (%) | |
|---|---|---|---|
| Profit (Losses) Resulting From The Change In Investment Propertie’s Fair Value | - | - | |
| All figures are in (Millions) Saudi Arabia, Riyals | |||
Year-on-Year Performance Drivers
For the six-month period ending 30 June 2026, sales/revenue rose 5.898% YoY to SAR 655.3 million (from SAR 618.8 million), driven by store expansion, growth in e-commerce and platform sales, and the success of new products. Despite the top-line improvement, net profit attributable to shareholders declined 5.716% YoY to SAR 136.9 million (from SAR 145.2 million), primarily due to increased costs associated with new store openings in prime locations and higher administrative expenses related to advisory services for acquisition activities. Operational profit also contracted 8.911% YoY to SAR 143.1 million (from SAR 157.1 million), reflecting the elevated operating cost base from these strategic investments. Management expects these expansion initiatives to support sustainable growth and positively impact financial performance in future periods.
Quarter-on-Quarter Performance Drivers
QoQ revenue declined 50.467% to SAR 217.1 million (from SAR 438.3 million in Q1 2026), driven entirely by seasonality: Q1 2026 benefited from Ramadan — the company's strongest sales season — while Q2 2026 was limited to the Hajj season only. Net profit similarly fell 75.658% QoQ to SAR 26.8 million (from SAR 110.1 million), for the same seasonal reason, as the absence of Ramadan-driven demand significantly reduced both revenue and profitability in the current quarter.
Other Items
Al Majed Oud Co.'s interim financial results for the six months ended 30 June 2026 received an unmodified conclusion from the external auditor, with no additional comments, reservations, disclaimers, or adverse opinions noted. Total shareholders' equity (after deducting minority equity) stood at SAR 617.7 million as of the current period, compared to SAR 511.9 million in the same period of the previous year, representing a 20.668% increase. Earnings per share for the current period were SAR 5.48, compared to SAR 5.81 in the same period of the previous year. The company also disclosed a reclassification of certain costs previously included within cost of revenues, which have been retrospectively reclassified to selling and marketing expenses for the comparative period ending 30 June 2025; the company confirmed this reclassification had no impact on net profit, total equity, or cash flows. No material risks, going concern uncertainties, debt covenant breaches, or accumulated losses were reported.
Original announcement:
https://www.saudiexchange.sa/wps/portal/saudiexchange/newsandreports/issuer-news/issuer-announcements/issuer-announcements-details/?anId=97261&anCat=1&cs=4165&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.