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Shaker's Q2 2026 profits drop 73.3%
Al Hassan Gazi Ibrahim Shaker Company ("Shaker") recorded a 73.28% decline in its profits during the second quarter of 2026, with profits amounting to 5.32 million SAR compared to 19.9 million SAR in the same period of the previous year. The decrease in profits was influenced by a lower share of profits from affiliated companies, increased financing costs, a decline in contributions from projects in the heating, ventilation, and air conditioning solutions sector, as well as changes in the revenue mix. Additionally, the company experienced a 7.5% drop in revenues, reaching 340.97 million SAR. Profits for the first half of 2026 totaled approximately 29.6 million SAR, representing a 37.17% decline compared to the same period last year.
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