On 2026-08-11 09:20:18 (Saudi Time), Dar Albalad for Business Solutions 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 June 30, 2026, sales/revenue increased 6.945% YoY to SAR 166.57 million (from SAR 155.75 million), primarily driven by growth in the parent company's business solutions revenues by SAR 18,038,846, reaching SAR 159,662,077, partially offset by a SAR 7,220,712 decline in the subsidiary's revenues to SAR 6,910,188 due to geopolitical conditions impacting industrial maintenance and reclamation services. Net profit attributable to shareholders rose 2.878% YoY to SAR 25.46 million (from SAR 24.75 million), supported by a SAR 2,537,564 increase in operating profit to SAR 28,227,624, but partially offset by net unrealized losses from investment revaluation of SAR 515,118 (versus gains of SAR 844,708 in the prior period, a net negative swing of SAR 1,359,826) and an increase in estimated Zakat expense of SAR 746,838.

Quarter-on-Quarter Performance Drivers

QoQ revenue declined 2.47% to SAR 82.25 million (from SAR 84.33 million), primarily driven by a 48.7% drop in the subsidiary's revenues to SAR 2.34 million (from SAR 4.57 million) due to lower Reclamation services, partially offset by a marginal 0.2% increase in the parent company's business solutions revenues to SAR 79.90 million. Net profit fell 22.20% QoQ to SAR 11.14 million (from SAR 14.32 million), largely reflecting a 16.72% decline in operating profit to SAR 12.83 million driven by the revenue drop and a 15.93% contraction in gross profit, compounded by a rise in net unrealized investment revaluation losses to SAR 0.46 million (from SAR 0.05 million) and higher Zakat expense of SAR 1.40 million (vs. SAR 1.29 million), plus a net negative impact from other items of SAR 0.07 million.

Other Items

The external auditor issued an unmodified conclusion on the interim financial results for the six-month period ended June 30, 2026, with no additional comments, reservations, or other matters noted. No accumulated losses were reported. Total shareholders' equity as of June 30, 2026, increased by 35.72% to SAR 205,294,871, compared to SAR 151,265,342 for the same period of the previous year, an increase of SAR 54,029,529. Earnings per share for the current period stood at SAR 0.365, compared to SAR 0.354 for the same period of the previous year.

Original announcement:

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