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Al-Mamlaka Q2 profit dips to 333.23 million
Kingdom Holding Company announced its financial results for the second quarter of 2026, recording a net profit of 333.23 million riyals, a decrease of 17.74% compared to the same period last year. This decline was due to lower profits from the sale of stakes in real estate companies and other investments, as well as increased operating costs and taxes. Nevertheless, the second quarter showed a 23.93% improvement over the first quarter, driven by increased profits from the hotel sector and improved financial performance. For the first half of the year, the company reported a profit of 602.11 million riyals, down by 28.04% from the previous year, mainly due to decreased dividend income and real estate profits. The revenues for the first half of 2026 amounted to approximately 1.20 billion riyals, a decline of 11.71%, with the reduction in dividends also impacting the gross profit, which fell by 23.19%.
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