Maharah Reports SAR 64.78M Net Profit in Three Months 2026
MAHARAH 1831.SA | 0.00 |
On 2026-05-11 07:56:57 (Saudi Time), Maharah Human Resources Co. announced its Interim financial results for the three months ended on March 31, 2026.
| Element List | Current Quarter | Similar quarter for previous year | %Change | Previous Quarter | % Change |
|---|---|---|---|---|---|
| Sales/Revenue | 923.03 | 710.84 | 29.85 | 856.53 | 7.763 |
| Gross Profit (Loss) | 105.34 | 65.04 | 61.961 | 99.22 | 6.168 |
| Operational Profit (Loss) | 76.43 | 40.35 | 89.417 | 55.54 | 37.612 |
| Net Profit (Loss) Attributable to Shareholders of the Issuer | 64.78 | 44.46 | 45.704 | 139.46 | -53.549 |
| Total Comprehensive Income Attributable to Shareholders of the Issuer | 62.71 | 42.96 | 45.972 | 136.02 | -53.896 |
| All figures are in (Millions) Saudi Arabia, Riyals | |||||
| Element List | Current Period | Similar period for previous year | %Change |
|---|---|---|---|
| Total Shareholders Equity (after Deducting Minority Equity) | 939.6 | 682.67 | 37.636 |
| Profit (Loss) per Share | 0.14 | 0.1 | |
| 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
Sales increased 29.85% YoY to SAR 923.03 million, driven by improvements in both Corporate Services and Individual Services sectors, which grew 33% and 17% respectively due to increased workforce capacity of 22% and 2% to meet rising demand. Net profit attributable to shareholders rose 45.704% YoY to SAR 64.78 million, primarily due to the 30% revenue growth and a 62% increase in gross profit to SAR 105 million, reflecting improved operational efficiency and cost optimization, particularly in the Individual Services sector with higher utilization rates.
Quarter-on-Quarter Performance Drivers
QoQ revenue increased 7.763% to SAR 923.03 million driven by improvements in Corporate Services and Individual Services sectors, which grew 6% and 10% respectively due to increased workforce to meet rising demand. However, net profit declined 53.549% to SAR 64.78 million primarily due to a non-recurring capital gain of SAR 105 million recorded in the previous quarter from the sale of Care Shield Holding Company stake. Excluding non-recurring items, underlying net profit would have increased 88% due to higher gross profit, reduced impairment losses, and lower general administrative, marketing, and finance costs.
Other Items
Auditors issued a qualified opinion due to the Group's inability to perform equity accounting for its SAR 403,375,713 investment in Saudi Medical Systems Company, as the Group lacks access to the associate's financial information, management, and auditor. The auditors were unable to quantify the effects of this departure from IAS 28 requirements on the condensed consolidated interim financial statements. Additionally, auditors could not perform review procedures on restatements of the comparative period figures for the three months ended March 31, 2025, as they were not provided access to Saudi Medical Systems Company's financial information. No accumulated losses were reported, with total shareholders' equity increasing 37.636% to SAR 939.6 million and earnings per share improving from SAR 0.1 to SAR 0.14.
Original announcement:
https://www.saudiexchange.sa/wps/portal/saudiexchange/newsandreports/issuer-news/issuer-announcements/issuer-announcements-details/?anId=95193&anCat=1&cs=1831&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.