Multi Business Group Reports SAR 5.79M Net Profit in the Six Months 2026
MULTI BUSINESS 9619.SA | 0.00 |
On 2026-07-30 08:01:30 (Saudi Time), Multi Business Group 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 | 70,080,376 | 75,815,696 | -7.564 | ||
| Net Profit (Loss) Attributable to Shareholders of the Issuer | 5,785,479 | 4,351,599 | 32.95 | ||
| Total Shareholders Equity (after Deducting Minority Equity) | 90,227,178 | 89,841,347 | 0.429 | ||
| Profit (Loss) per Share | 0.13 | 0.1 | |||
| 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 | |||
| 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 |
This decrease in revenue was mainly due to:
• A decrease in revenue from the contracting segment during the current period to SAR (62.9) million, representing a decrease of (14.76%) compared to SAR (73.8) million for the corresponding period of the previous year. This was due to a change in the mix of projects and stages of execution during the period, which affected the percentage of completion and the revenue recognized. This segment contributes approximately (90%) of total revenue. This was despite: • An increase in revenue from the building materials segment during the current period to SAR (7.2) million, representing an increase of (256.72%) compared to SAR (2) million for the corresponding period of the previous year. This was due to an increase in quantities sold. This segment contributes approximately (10%) of total revenue. |
| The reason of the increase (decrease) in the net profit during the current period compared to the same period of the last year is |
This increase in net profit was mainly due to:
• An increase in gross profit during the current period to SAR (9.3) million, representing an increase of (10.20%) compared to SAR (8.4) million for the corresponding period of the previous year, despite the decrease in revenue. This was due to improved margins on executed projects and a higher contribution from projects with higher margins, in addition to a decrease in salaries, wages and related benefits, reflecting the alignment of the operating cost structure with the current level of activity. Accordingly, the gross profit margin improved during the current period to (13.25%) compared to (11.11%) for the corresponding period of the previous year. • An increase in other income during the current period to SAR (0.5) million compared to SAR (0.2) million, due to placing surplus cash in Murabaha deposits. |
| Statement of the type of external auditor's report | Unmodified conclusion |
| Reclassification of Comparison Items | NA |
| Additional Information |
• The value of contracts awarded during the period amounted to SAR (114.3) million, while the backlog as at the end of the period amounted to SAR (261.2) million, representing a coverage ratio of (1.93) times the revenue of 2025.
• Basic earnings per share attributable to common share is calculated by dividing the net profit attributable to common stockholders by the weighted average number of common shares outstanding during the period. Diluted earnings per share are similar to basic earnings per share in that the Company has no diluted shares on issue. Accordingly the weighted average number of shares was calculated as (45,000,000) shares, as if the capital increase had taken effect from the beginning of the six-month period ended June 30, 2025, since the capital increase did not result from external cash injections, in accordance with the requirements of International Financial Reporting Standards (IFRS) as adopted in the Kingdom of Saudi Arabia. For more details, please see note no. (16) in the financial statement. |
Year-on-Year Performance Drivers
Sales/Revenue declined 7.564% YoY to SAR 70.08 million (from SAR 75.82 million), primarily driven by a 14.76% decrease in the contracting segment revenue to SAR 62.9 million, which accounts for approximately 90% of total revenue, due to a change in project mix and execution stages affecting the percentage of completion and recognized revenue; this was partially offset by a 256.72% surge in building materials segment revenue to SAR 7.2 million driven by higher quantities sold. Despite the revenue decline, net profit attributable to shareholders rose 32.95% YoY to SAR 5.79 million (from SAR 4.35 million), mainly due to improved gross profit margins on executed projects reaching 13.25% versus 11.11% in the prior period, a reduction in salaries and related costs, and an increase in other income to SAR 0.5 million from SAR 0.2 million driven by surplus cash placed in Murabaha deposits.
Other Items
The external auditor issued an unmodified conclusion for the six-month period ended June 30, 2026. No accumulated losses or fair value changes in investment properties were reported. Total shareholders' equity (after deducting minority equity) stood at SAR 90,227,178, compared to SAR 89,841,347 for the same period of the previous year, representing a 0.429% increase. Earnings per share attributable to common shareholders was SAR 0.13, up from SAR 0.10 in the prior period, calculated based on a weighted average of 45,000,000 shares. The value of contracts awarded during the period amounted to SAR 114.3 million, with a backlog of SAR 261.2 million as at the end of the period, representing a coverage ratio of 1.93 times the revenue of 2025.
Original announcement:
https://www.saudiexchange.sa/wps/portal/saudiexchange/newsandreports/issuer-news/issuer-announcements/issuer-announcements-details/?anId=97081&anCat=1&cs=9619&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.