Balsm Alofoq Medical Reports SAR 0.80M Net Profit in the Six Months 2026
BALSM MEDICAL 9620.SA | 0.00 |
On 2026-08-27 15:51:21 (Saudi Time), Balsm Alofoq Medical Co. announced its Interim financial results for the six months ended on June 30, 2026.
| Element List | Current Period | Similar period for previous year | %Change | ||
|---|---|---|---|---|---|
| Sales/Revenue | 11,421,900 | 9,760,120 | 17.026 | ||
| Net Profit (Loss) Attributable to Shareholders of the Issuer | 804,385 | 1,343,490 | -40.127 | ||
| Total Shareholders Equity (after Deducting Minority Equity) | 31,697,715 | 30,260,908 | 4.748 | ||
| Profit (Loss) per Share | 0.32 | 0.54 | |||
| All figures are in (Actual) 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 (Actual) Saudi Arabia, Riyals | |||
| Element List | Explanation |
|---|---|
| The reason of the increase (decrease) in the sales/ revenues during the current period compared to the same period of the last year is | Revenues for the period ending June 30, 2026 increased by 17% compared to the same period last year, primarily due to the company's expansion and growth strategy and increased market share, reflecting growth in sales. |
| The reason of the increase (decrease) in the net profit during the current period compared to the same period of the last year is |
The decrease in net profit compared to the previous year, despite revenue growth, is attributed to higher operating and capital expenditures resulting from the implementation of the company's expansion strategy. These expenditures included:
* The commencement of operations at the Ar Rass branch in early 2026, which entailed an increase in operating expenses.
* The opening of the dermatology and cosmetic department at one of the company's branches in Buraidah in early 2026, and the associated costs related to equipment and operation.
* The commencement of preparations for the operation and maintenance of primary healthcare services with the Royal Commission for Jubail and Yanbu, which began operations on July 1, 2026, at a total cost of SAR 71,809,882.21, and the associated operational and preparatory costs. |
| Statement of the type of external auditor's report | Unmodified conclusion |
| Reclassification of Comparison Items | nothing |
| Additional Information | Although these expansion investments have had a negative impact on the company's net profit during the period, the company expects these steps to bear positive results in the near future, enhancing the company's financial performance and supporting its strategy for sustainable growth. |
Year-on-Year Performance Drivers
Sales/Revenue increased 17.026% YoY to SAR 11.42 million (from SAR 9.76 million), driven by the company's expansion and growth strategy along with increased market share. Despite this revenue growth, net profit attributable to shareholders declined 40.127% YoY to SAR 0.80 million (from SAR 1.34 million), primarily due to higher operating and capital expenditures associated with the expansion strategy, including the commencement of operations at the Ar Rass branch in early 2026, the opening of a dermatology and cosmetic department at a Buraidah branch, and preparatory costs related to the operation and maintenance of primary healthcare services with the Royal Commission for Jubail and Yanbu, which began operations on July 1, 2026, at a total cost of SAR 71,809,882.21.
Other Items
The external auditor issued an unmodified conclusion for the interim period ending June 30, 2026. Total shareholders' equity (after deducting minority equity) stood at SAR 31,697,715, compared to SAR 30,260,908 in the same period of the prior year, reflecting a 4.748% increase. Earnings per share declined to SAR 0.32 from SAR 0.54 in the prior year period. The company stated in the announcement that "although these expansion investments have had a negative impact on the company's net profit during the period, the company expects these steps to bear positive results in the near future, enhancing the company's financial performance and supporting its strategy for sustainable growth." No material risks, going concern uncertainties, accumulated losses, or reclassification of comparison items were reported.
Original announcement:
https://www.saudiexchange.sa/wps/portal/saudiexchange/newsandreports/issuer-news/issuer-announcements/issuer-announcements-details/?anId=97836&anCat=1&cs=9620&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.