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Saudi Group reports Q2 losses 2026
The Saudi Industrial Investment Company announced a shift to losses in the second quarter of 2026, recording a net loss attributable to shareholders of 58 million riyals, compared to a profit of 20 million riyals in the same period last year. The company attributed this change to a decreased share of profits from its jointly managed companies, due to higher raw material costs and a decline in sales volumes caused by supply chain disruptions, despite improved prices for some products and lower depreciation expenses following asset revaluation. Additionally, the results were affected by a decrease in Islamic profit swap revenues and an increase in general and administrative expenses. For the first half of 2026, the company's profits surged by 410.53% to reach 194 million riyals, supported by better product prices and a reduction in Zakat expenses, despite lower sales volumes and rising costs.
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