Sumou Real Estate Reports SAR 67.10M Net Profit in the Six Months 2026
SUMOU 4323.SA | 0.00 |
On 2026-08-02 08:05:48 (Saudi Time), Sumou Real Estate Co. announced its Interim financial results for the six months ended on June 30, 2026.
| Element List | Current Quarter | Similar quarter for previous year | %Change | Previous Quarter | % Change |
|---|---|---|---|---|---|
| Sales/Revenue | 148,664 | 104,167 | 42.716 | 185,531 | -19.871 |
| Gross Profit (Loss) | 42,668 | 26,785 | 59.298 | 50,666 | -15.785 |
| Operational Profit (Loss) | 35,677 | 21,018 | 69.744 | 39,209 | -9.008 |
| Net Profit (Loss) Attributable to Shareholders of the Issuer | 31,471 | 37,080 | -15.126 | 35,625 | -11.66 |
| Total Comprehensive Income Attributable to Shareholders of the Issuer | 24,628 | 25,679 | -4.092 | 33,883 | -27.314 |
| All figures are in (Thousands) Saudi Arabia, Riyals | |||||
| Element List | Current Period | Similar period for previous year | %Change |
|---|---|---|---|
| Sales/Revenue | 334,195 | 205,656 | 62.501 |
| Gross Profit (Loss) | 93,334 | 57,025 | 63.672 |
| Operational Profit (Loss) | 74,886 | 46,185 | 62.143 |
| Net Profit (Loss) Attributable to Shareholders of the Issuer | 67,096 | 59,443 | 12.874 |
| Total Comprehensive Income Attributable to Shareholders of the Issuer | 58,511 | 47,730 | 22.587 |
| Total Shareholders Equity (after Deducting Minority Equity) | 801,327 | 656,421 | 22.075 |
| Profit (Loss) per Share | 1.34 | 1.19 | |
| All figures are in (Thousands) 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 (Thousands) Saudi Arabia, Riyals | |||
Year-on-Year Performance Drivers
For the six-month period ending 30 June 2026, Sumou Real Estate Co. reported sales/revenue of SAR 334.20 million, up 62.501% YoY from SAR 205.66 million, driven primarily by growth in real estate development revenues reflecting construction progress across the company's projects, as well as growth in real estate services revenues. Net profit attributable to shareholders rose 12.874% YoY to SAR 67.10 million from SAR 59.44 million, supported by the increase in revenues and operating profit. Notably, the net profit growth lagged behind revenue growth largely because the prior-year period benefited from other revenues of 15.19 million(currency not specified in original) from the sale of investment properties, which were not repeated in the current period.
Quarter-on-Quarter Performance Drivers
QoQ revenue declined 19.871% to SAR 148.66 million (from SAR 185.53 million), driven by lower value of works executed and recognized under the percentage-of-completion method during the current quarter, in line with the execution schedules of the company's projects. Net profit attributable to shareholders fell 11.66% QoQ to SAR 31.47 million (from SAR 35.63 million), primarily due to the decrease in revenues and gross profit compared to the previous quarter, consistent with project execution schedules.
Other Items
The external auditor issued an unmodified conclusion on the condensed consolidated interim financial information for the three and six-month periods ended 30 June 2026. As noted in the auditor's report, the consolidated financial statements of the Group for the year ended 31 December 2025 were audited by another independent auditor, who expressed an unmodified opinion on those statements on 9 March 2026, and the condensed consolidated interim financial information for the three and six-month periods ended 30 June 2025 was reviewed by another independent auditor, who expressed an unmodified conclusion on 3 August 2025. No material risks, going concern uncertainties, or accumulated losses were flagged. Total shareholders' equity (after deducting minority equity) stood at SAR 801,327 thousand as of the current period, up 22.075% from SAR 656,421 thousand in the same period of the prior year. Earnings per share for the current six-month period were SAR 1.34, compared to SAR 1.19 in the same period of the prior year. Certain comparative figures have been reclassified to conform with the current period's presentation, with no impact on net profit or total equity.
Original announcement:
https://www.saudiexchange.sa/wps/portal/saudiexchange/newsandreports/issuer-news/issuer-announcements/issuer-announcements-details/?anId=97134&anCat=1&cs=4323&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.