Saudi Refineries Reports SAR 5.72M Net Profit in Q1 2026
SARCO 2030.SA | 0.00 |
On 2026-05-11 15:50:17 (Saudi Time), Saudi Arabia Refineries 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 | 9,457,874 | 6,746,896 | 40.181 | -32,825,881 | - |
| Gross Profit (Loss) | 9,457,874 | 6,746,896 | 40.181 | -32,825,881 | - |
| Operational Profit (Loss) | 6,988,999 | 3,933,351 | 77.685 | -37,770,481 | - |
| Net Profit (Loss) Attributable to Shareholders of the Issuer | 5,724,239 | 2,080,507 | 175.136 | -38,104,409 | - |
| Total Comprehensive Income Attributable to Shareholders of the Issuer | 5,724,239 | 2,080,507 | 175.136 | -38,079,316 | - |
| All figures are in (Actual) Saudi Arabia, Riyals | |||||
| Element List | Current Period | Similar period for previous year | %Change |
|---|---|---|---|
| Total Shareholders Equity (after Deducting Minority Equity) | 289,035,698 | 345,549,828 | -16.354 |
| Profit (Loss) per Share | 0.38 | 0.14 | |
| 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 | - | - | |
| All figures are in (Actual) Saudi Arabia, Riyals | |||
Year-on-Year Performance Drivers
Sales increased 40.18% YoY to SAR 9.46 million, driven by increased realized and unrealized gains from investments in listed company shares within the investment portfolio, despite decreased dividend income. Net profit surged 175.14% YoY to SAR 5.72 million, primarily attributable to the same investment gains that boosted revenues.
Quarter-on-Quarter Performance Drivers
QoQ revenue increased to SAR 9.46 million from a loss of SAR 32.83 million in the previous quarter, driven by higher realized and unrealized gains from investments in listed company shares within the portfolio. Net profit surged to SAR 5.72 million compared to a loss of SAR 38.10 million in the prior quarter, benefiting from increased investment gains and a 51% reduction in general and administrative expenses.
Other Items
The external auditor issued an unmodified conclusion with no comments mentioned in other matter, conservation, notice, disclaimer of opinion, or adverse opinion paragraphs. Total shareholders equity decreased 16.354% to SAR 289,035,698 compared to the previous year. Earnings per share improved to SAR 0.38 from SAR 0.14 in the same quarter last year.
Original announcement:
https://www.saudiexchange.sa/wps/portal/saudiexchange/newsandreports/issuer-news/issuer-announcements/issuer-announcements-details/?anId=95248&anCat=1&cs=2030&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.