On 2026-08-06 08:04:27 (Saudi Time), Almunajem Foods 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 30 June 2026, sales/revenue declined marginally by 1.495% YoY to SAR 1,673.39 million (from SAR 1,698.79 million), primarily due to lower sales volumes across most major product categories. Despite the slight revenue decline, net profit attributable to shareholders surged 155.871% YoY to SAR 181.72 million (from SAR 71.02 million), driven mainly by significantly higher gross profit — up 43.387% to SAR 366.44 million — resulting from improved profit margins across most major product categories, supported by relatively improved market conditions.

Quarter-on-Quarter Performance Drivers

QoQ revenue declined 5.676% to SAR 812.5 million in Q2 2026, driven by lower sales volumes primarily in the Dairy and Olives & Oil categories due to seasonal shifts in consumption patterns. Net profit fell 12.68% QoQ to SAR 84.7 million, as gross profit dipped 2.319% on the same volume weakness, while operating expenses rose due to higher marketing and supply chain costs alongside expansion-related expenses for the new logistics subsidiary (LoadLy).

Other Items

The external auditor issued an unmodified conclusion with no additional comments or reservations noted. No accumulated losses or fair value losses on investment properties were reported for the period. During the six-month period ended 30 June 2026, the Group recognized a net unrealized loss of SAR 4.9 million on financial assets measured at fair value through other comprehensive income (FVOCI), comprising an unrealized gain of SAR 17.7 million in Q1 2026 and an unrealized loss of SAR 22.6 million in Q2 2026 on the Company's investment in Al Jouf Agricultural Company. Total shareholders' equity (after deducting minority equity) stood at SAR 1,161.75 million as of the current period, up 13.786% from SAR 1,020.99 million in the same period of the prior year. Earnings per share for the current period were SAR 3.03, compared to SAR 1.18 in the corresponding prior-year period. Some comparative figures for previous periods have been reclassified in line with the current period's classification. No material risks, going concern uncertainties, or debt covenant breaches were disclosed.

Original announcement:

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