Armah Sports Reports SAR 11.6M Net Profit in Three Months 2026
ARMAH 9590.SA | 0.00 |
On 2026-05-10 08:23:40 (Saudi Time), Armah Sports Company 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 | 53.7 | 51.3 | 4.678 | 62.1 | -13.526 |
| Gross Profit (Loss) | 26.4 | 25 | 5.599 | 32.5 | -18.769 |
| Operational Profit (Loss) | 15.8 | 25.3 | -37.549 | 10.9 | 44.954 |
| Net Profit (Loss) Attributable to Shareholders of the Issuer | 11.6 | 19 | -38.947 | 16.6 | -30.12 |
| Total Comprehensive Income Attributable to Shareholders of the Issuer | 11.5 | 19 | -39.473 | 16.6 | -30.722 |
| All figures are in (Millions) Saudi Arabia, Riyals | |||||
| Element List | Current Period | Similar period for previous year | %Change |
|---|---|---|---|
| Total Shareholders Equity (after Deducting Minority Equity) | 564 | 552.6 | 2.062 |
| Profit (Loss) per Share | 0.35 | 0.58 | |
| 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 | - | - | |
| Accumulated Losses | - | - | |
| All figures are in (Millions) Saudi Arabia, Riyals | |||
Year-on-Year Performance Drivers
Sales increased 4.678% YoY to SAR 53.7 million, driven by 4% growth in subscription and membership revenue from membership expansion and club maturation, 4% growth in personal training revenue due to strong demand, and increased ancillary revenue streams. Net profit declined 38.947% YoY to SAR 11.6 million, primarily due to a non-recurring SAR 9.5 million sublease gain in Q1 2025, along with 4% higher cost of revenue and 15% increased operating expenses from strategic investments in automation and Main Market transition preparation. Excluding the prior year's non-recurring item, net profit would have increased 22% YoY, reflecting underlying business strength despite higher operational investments.
Quarter-on-Quarter Performance Drivers
QoQ revenue declined 13.53% from 62.1 million to 53.7 million SAR primarily due to seasonality factors, including the impact of Ramadan and Eid during Q1 2026, while Q4 2025 benefited from stronger demand supported by deferred revenue from the September National Day campaign. Net profit decreased 30.12% from 16.6 million to 11.6 million SAR, primarily driven by the seasonal variations in sales that reduced overall profitability.
Other Items
Auditors issued an unmodified conclusion with no additional comments, disclaimers, or adverse opinions noted. The company reported no accumulated losses, with total shareholders equity of SAR 564 million representing a 2.062% increase from the previous year. Earnings per share decreased from SAR 0.58 to SAR 0.35. The financial statements were prepared in accordance with International Financial Reporting Standards (IFRS) as endorsed in Saudi Arabia by SOCPA, with certain comparative figures reclassified for better presentation purposes.
Original announcement:
https://www.saudiexchange.sa/wps/portal/saudiexchange/newsandreports/issuer-news/issuer-announcements/issuer-announcements-details/?anId=95130&anCat=1&cs=9590&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.