Armah Sports Reports SAR 24.3M Net Profit in the Six Months 2026
ARMAH 9590.SA | 0.00 |
On 2026-07-30 08:00:46 (Saudi Time), Armah Sports Company 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 | 60 | 51.1 | 17.416 | 53.7 | 11.731 |
| Gross Profit (Loss) | 27.6 | 22.7 | 21.585 | 26.4 | 4.545 |
| Operational Profit (Loss) | 17.1 | 13.5 | 26.666 | 15.8 | 8.227 |
| Net Profit (Loss) Attributable to Shareholders of the Issuer | 12.6 | 8.5 | 48.235 | 11.6 | 8.62 |
| Total Comprehensive Income Attributable to Shareholders of the Issuer | 12.5 | 8.5 | 47.058 | 11.5 | 8.695 |
| All figures are in (Millions) Saudi Arabia, Riyals | |||||
| Element List | Current Period | Similar period for previous year | %Change |
|---|---|---|---|
| Sales/Revenue | 113.7 | 102.4 | 11.035 |
| Gross Profit (Loss) | 54 | 47.7 | 13.207 |
| Operational Profit (Loss) | 32.9 | 38.8 | -15.206 |
| Net Profit (Loss) Attributable to Shareholders of the Issuer | 24.3 | 27.5 | -11.636 |
| Total Comprehensive Income Attributable to Shareholders of the Issuer | 24 | 27.5 | -12.727 |
| Total Shareholders Equity (after Deducting Minority Equity) | 576.5 | 498.4 | 15.67 |
| Profit (Loss) per Share | 0.74 | 0.84 | |
| 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
For the six-month period ended 30 June 2026, sales/revenue grew 11.035% YoY to SAR 113.7 million (vs. SAR 102.4 million in H1 2025), driven by subscription and membership revenue growth of 10% from membership expansion and higher average revenue per member, as well as Personal Training revenue growth of 21% supported by strong demand for high-quality training services. Despite the revenue increase, net profit attributable to shareholders declined 11.636% YoY to SAR 24.3 million (vs. SAR 27.5 million in H1 2025), primarily due to a non-recurring gain of SAR 9.5 million from a sublease transaction recognized in Q1 2025 that did not recur, and a 9% increase in cost of revenue driven by the opening of two new clubs in Q2 2026, partially offset by a decrease in interest expenses. Notably, excluding the non-recurring item from H1 2025, adjusted net profit for H1 2025 would have been SAR 18.0 million, implying an underlying YoY increase of 35% for H1 2026.
Quarter-on-Quarter Performance Drivers
QoQ revenue rose 11.731% to SAR 60.0 million in Q2 2026, primarily driven by the normalization of member activity following the seasonal impact of Ramadan and Eid in Q1 2026, supported by an increase in active members. Net profit attributable to shareholders grew 8.62% QoQ to SAR 12.6 million, mainly due to higher seasonal revenue, though this was partially offset by ramp-up costs associated with the opening of two new clubs during Q2 2026.
Other Items
Armah Sports Company's external auditor issued an unmodified conclusion with no additional comments, reservations, or adverse opinions noted. Total shareholders' equity (after deducting minority equity) stood at SAR 576.5 million as of 30 June 2026, compared to SAR 498.4 million in the same period of the prior year, representing a 15.67% increase. No accumulated losses were reported. Certain comparative figures have been reclassified for comparison and better presentation purposes, and the financial statements were prepared in accordance with IFRS as endorsed in the Kingdom of Saudi Arabia by SOCPA.
Original announcement:
https://www.saudiexchange.sa/wps/portal/saudiexchange/newsandreports/issuer-news/issuer-announcements/issuer-announcements-details/?anId=97079&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.