First Milling Reports SAR 146.03M Net Profit in the Six Months 2026
FIRST MILLS 2283.SA | 0.00 |
On 2026-07-29 08:05:35 (Saudi Time), First Milling Co. 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 | 301,250,230 | 237,765,812 | 26.7 | 332,751,810 | -9.466 |
| Gross Profit (Loss) | 143,225,813 | 102,717,582 | 39.436 | 137,240,581 | 4.361 |
| Operational Profit (Loss) | 86,414,043 | 66,219,221 | 30.496 | 99,641,521 | -13.275 |
| Net Profit (Loss) Attributable to Shareholders of the Issuer | 65,946,825 | 51,405,711 | 28.286 | 80,087,472 | -17.656 |
| Total Comprehensive Income Attributable to Shareholders of the Issuer | 62,969,657 | 48,491,399 | 29.857 | 77,533,400 | -18.783 |
| All figures are in (Actual) Saudi Arabia, Riyals | |||||
| Element List | Current Period | Similar period for previous year | %Change |
|---|---|---|---|
| Sales/Revenue | 634,002,040 | 521,361,912 | 21.604 |
| Gross Profit (Loss) | 280,466,394 | 225,962,883 | 24.12 |
| Operational Profit (Loss) | 186,055,564 | 160,881,400 | 15.647 |
| Net Profit (Loss) Attributable to Shareholders of the Issuer | 146,034,297 | 131,069,916 | 11.417 |
| Total Comprehensive Income Attributable to Shareholders of the Issuer | 140,503,057 | 124,081,005 | 13.234 |
| Total Shareholders Equity (after Deducting Minority Equity) | 1,115,516,784 | 1,002,987,507 | 11.219 |
| Profit (Loss) per Share | 2.64 | 2.37 | |
| 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 | |||
Year-on-Year Performance Drivers
For the six-month period ending 30 June 2026, sales/revenue rose 21.604% YoY to SAR 634.00 million (from SAR 521.36 million), driven by the company's diversification strategy, strong feed segment growth of 68.0% YoY, resilient flour demand with revenues up 11.8% YoY, and an expanding range of value-added products. Net profit attributable to shareholders increased 11.417% YoY to SAR 146.03 million (from SAR 131.07 million), reflecting continued focus on profitable growth, operational excellence, and disciplined capital deployment, though the rate of profit growth lagged revenue growth partly due to a slight increase in net finance expenses. On a current-quarter basis, revenue grew 26.7% YoY to SAR 301.25 million, supported by feed growth of 78.7% YoY and flour revenue growth of 22.2% YoY, while net profit rose 28.286% YoY to SAR 65.95 million, with net profit margin improving to 21.9% from 21.6%, as stronger operating performance more than offset higher finance expenses.
Quarter-on-Quarter Performance Drivers
QoQ revenue declined 9.5% to SAR 301.25 million in Q2 2026 (from SAR 332.75 million in Q1 2026), primarily driven by the seasonal post-Ramadan normalization of flour demand, as the elevated commercial activity during Ramadan — particularly in the retail sector — subsided in the subsequent quarter. Net profit attributable to shareholders fell 17.7% QoQ to SAR 65.95 million (from SAR 80.09 million), mainly due to lower flour revenues and a normalization of feed product demand following an exceptionally strong Q1 2026 performance that had exceeded management's expectations. Partially offsetting these declines, bran sales increased during Q2 2026 on stronger demand compared to the prior quarter.
Other Items
The external auditor issued an unmodified conclusion with no additional comments or reservations noted. No material risks, going concern uncertainties, or debt covenant breaches were disclosed. Total shareholders' equity (after deducting minority equity) stood at SAR 1,115,516,784 as of the current period, compared to SAR 1,002,987,507 in the same period of the prior year, representing an increase of 11.219%. Earnings per share for the current six-month period were SAR 2.64, compared to SAR 2.37 in the prior-year period. No profits or losses resulting from changes in investment property fair value were reported.
Original announcement:
https://www.saudiexchange.sa/wps/portal/saudiexchange/newsandreports/issuer-news/issuer-announcements/issuer-announcements-details/?anId=97053&anCat=1&cs=2283&locale=arAttached PDF document link:
https://www.saudiexchange.sa/Resources/fsPdf/16450_4606_2026-07-28_21-09-33_en.pdfImportant 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.