Horizon Food Reports SAR 5.42M Net Profit in the Six Months 2026
HORIZON FOOD 9564.SA | 0.00 |
On 2026-08-10 09:18:33 (Saudi Time), Horizon Food 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 | 22,302,184 | 18,138,082 | 22.957 | 21,280,332 | 4.801 |
| Gross Profit (Loss) | 6,139,315 | 6,104,507 | 0.57 | 6,798,220 | -9.692 |
| Operational Profit (Loss) | 1,812,202 | 3,121,520 | -41.944 | 3,835,119 | -52.747 |
| Net Profit (Loss) Attributable to Shareholders of the Issuer | 1,680,900 | 3,099,816 | -45.774 | 3,737,316 | -55.023 |
| Total Comprehensive Income Attributable to Shareholders of the Issuer | 1,680,900 | 3,099,816 | -45.774 | 3,737,316 | -55.023 |
| All figures are in (Actual) Saudi Arabia, Riyals | |||||
| Element List | Current Period | Similar period for previous year | %Change |
|---|---|---|---|
| Sales/Revenue | 43,582,516 | 36,967,056 | 17.895 |
| Gross Profit (Loss) | 12,937,535 | 12,240,929 | 5.69 |
| Operational Profit (Loss) | 5,647,321 | 6,383,499 | -11.532 |
| Net Profit (Loss) Attributable to Shareholders of the Issuer | 5,418,216 | 6,522,718 | -16.933 |
| Total Comprehensive Income Attributable to Shareholders of the Issuer | 5,418,216 | 6,522,718 | -16.933 |
| Total Shareholders Equity (after Deducting Minority Equity) | 122,769,434 | 117,351,218 | 4.617 |
| Profit (Loss) per Share | 0.68 | 0.82 | |
| 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 | - | - | |
| Accumulated Losses | - | - | |
| 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 17.895% YoY to SAR 43.58 million (from SAR 36.97 million), driven by stronger market demand, expansion of the customer base, and an improved product sales mix. Despite the revenue growth, net profit attributable to shareholders declined 16.933% YoY to SAR 5.42 million (from SAR 6.52 million), primarily due to higher depreciation and amortization following the capitalization of assets, increased administrative expenses stemming from the new management structure, the write-off of damaged inventory, and zakat expense charged over the year.
Quarter-on-Quarter Performance Drivers
QoQ revenue rose 4.8% to SAR 22.30 million (from SAR 21.28 million in the prior quarter), driven by growth in the customer base. However, net profit dropped 55.0% QoQ to SAR 1.68 million (from SAR 3.74 million), primarily due to higher raw material costs, increased administrative expenses stemming from the appointment of a new leadership team, and the write-off and disposal of damaged inventory. Gross profit also declined 9.692% QoQ, reflecting the margin pressure from rising input costs despite the top-line improvement.
Other Items
The external auditor issued an unmodified conclusion on Horizon Food Co.'s interim financial results for the six months ended June 30, 2026, with no additional comments, qualifications, or emphasis of matter paragraphs noted. No accumulated losses or fair value changes on investment properties were reported for the period. Total shareholders' equity (after deducting minority equity) stood at SAR 122,769,434 as of the current period, compared to SAR 117,351,218 in the same period of the prior year, representing a 4.617% increase. Earnings per share for the current period were SAR 0.68, down from SAR 0.82 in the same period of the previous year. No material risks, going concern uncertainties, debt covenant breaches, or reclassification of comparative items were disclosed.
Original announcement:
https://www.saudiexchange.sa/wps/portal/saudiexchange/newsandreports/issuer-news/issuer-announcements/issuer-announcements-details/?anId=97460&anCat=1&cs=9564&locale=arNote: The original announcement does not explicitly specify a currency unit. Figures above are reproduced as-is. Please refer to the original announcement for details.
Important 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.