Saudi Manpower Reports SAR 48.58M Net Profit in Three Months 2026
SMASCO 1834.SA | 0.00 |
On 2026-05-10 08:12:19 (Saudi Time), Saudi Manpower Solutions 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 | 557.02 | 498 | 11.851 | 548.6 | 1.534 |
| Gross Profit (Loss) | 85.45 | 69.49 | 22.967 | 80.37 | 6.32 |
| Operational Profit (Loss) | 51.14 | 46.24 | 10.596 | 45.36 | 12.742 |
| Net Profit (Loss) Attributable to Shareholders of the Issuer | 48.58 | 40.49 | 19.98 | 40.02 | 21.389 |
| Total Comprehensive Income Attributable to Shareholders of the Issuer | 48.03 | 37.85 | 26.895 | 35.98 | 33.49 |
| 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) | 626.93 | 586.2 | 6.948 |
| Profit (Loss) per Share | 0.12 | 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 | - | - | |
| All figures are in (Millions) Saudi Arabia, Riyals | |||
Year-on-Year Performance Drivers
Sales increased 11.851% YoY to SAR 557.02 million, driven by 11.5% growth in Corporate Segment revenues (SAR 37.1 million increase) and 18.9% growth in Individuals Segment revenues (SAR 29.1 million increase) due to higher demand for services. Net profit rose 19.98% YoY to SAR 48.58 million, primarily attributable to the revenue growth and a 22.967% increase in gross profit from margin improvement initiatives and workforce portfolio diversification, despite higher provisions for doubtful debts (SAR 4.7 million increase) and impairment losses on vendor advances (SAR 3.7 million).
Quarter-on-Quarter Performance Drivers
QoQ revenue increased 1.534% to 557.02 million SAR, driven by an 8.2% rise in Individuals Segment revenues due to higher seasonal demand during Ramadan, while Corporate Segment remained stable. Net profit surged 21.389% to 48.58 million SAR, primarily due to a 6.32% increase in gross profit and a 5.7 million SAR decrease in general administrative expenses from prior quarter's year-end provisions. Additional gains came from a 1.6 million SAR asset sale and reduced losses from Waad investment, though partially offset by a 3.7 million SAR impairment on vendor advances.
Other Items
The external auditor issued an unmodified conclusion with no additional comments, disclaimers, or adverse opinions noted. Total shareholders equity increased 6.948% to SAR 626.93 million compared to the previous year, with earnings per share rising from SAR 0.1 to SAR 0.12.
Original announcement:
https://www.saudiexchange.sa/wps/portal/saudiexchange/newsandreports/issuer-news/issuer-announcements/issuer-announcements-details/?anId=95120&anCat=1&cs=1834&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.