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Al-Seif Gallery Q2 profits rise 11.42%
Al Sawiq Retail and Investment Company (AlSeyf Gallery) achieved a net profit of 1.61 million SAR in the second quarter of 2026, representing an increase of approximately 11.41% compared to the same period last year, despite economic and geopolitical challenges and a slowdown in consumer spending. Quarterly sales rose by 3.8% to reach 138.58 million SAR, with online store sales growing by 9.1%. In the first half of 2026, the company recorded profits of 39.94 million SAR compared to 36.61 million SAR in the previous year, an increase of 9.09%, with revenues climbing to 411.76 million SAR by 13.5%. The company expects to complete a new branch in Riyadh during the third quarter and evaluate the impact of implementing International Financial Reporting Standard (IFRS) 18, which is anticipated to improve the presentation of operating profit.
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