Saudi Hardware Reports SAR 2.01M Net Profit in Three Months 2026
SACO 4008.SA | 0.00 |
On 2026-05-11 07:58:14 (Saudi Time), Saudi Company for Hardware 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 | 247.34 | 261.32 | -5.349 | 291 | -15.003 |
| Gross Profit (Loss) | 38.42 | 45.36 | -15.299 | 39.78 | -3.418 |
| Operational Profit (Loss) | 5.84 | 13.27 | -55.99 | 0.43 | 1,258.139 |
| Net Profit (Loss) Attributable to Shareholders of the Issuer | 2.01 | 5.07 | -60.355 | -3.93 | - |
| Total Comprehensive Income Attributable to Shareholders of the Issuer | 2.01 | 4.86 | -58.641 | -4.8 | - |
| 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) | 362.11 | 331.15 | 9.349 |
| Profit (Loss) per Share | 0.06 | 0.14 | |
| 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 | - | - | |
| All figures are in (Millions) Saudi Arabia, Riyals | |||
Year-on-Year Performance Drivers
Sales declined 5.349% YoY to SAR 247.34 million, primarily due to reduced logistics sales, decreased demand for seasonal products, and store closure. Net profit dropped 60.355% YoY to SAR 2.01 million, mainly driven by exceptional amortization expenses of SAR 5.45 million related to the E-commerce platform. However, excluding this one-time charge, underlying net profit would have been SAR 7.46 million, representing 47% growth compared to the prior year.
Quarter-on-Quarter Performance Drivers
QoQ revenue declined 15.003% to SAR 247.34 million, primarily due to reduced logistics sales, decreased demand for seasonal products, and closure of one company store. The company shifted from a net loss of SAR 3.93 million in the previous quarter to a net profit of SAR 2.01 million in the current quarter, mainly driven by reduction in selling, marketing, general, administrative, and amortization expenses.
Other Items
The external auditor issued an unmodified conclusion with no additional comments, disclaimers, or adverse opinions noted. Shareholders' equity increased 9.349% to SAR 362.11 million compared to the previous year, while earnings per share declined to SAR 0.06 from SAR 0.14 in the same quarter last year. Comparative period figures were reclassified to conform with current period classification numbers.
Original announcement:
https://www.saudiexchange.sa/wps/portal/saudiexchange/newsandreports/issuer-news/issuer-announcements/issuer-announcements-details/?anId=95195&anCat=1&cs=4008&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.