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Al-Wasa'il profits rise 130.74% in Q2 2026
Al-Wasail Industrial Company announced a 130.74% increase in its net profits for the second quarter of 2026 compared to the same period last year, reaching 8.23 million riyals. This was driven by an increase in gross profit margin to 29.6% and a decrease in costs, despite a 33% decline in sales due to delayed projects and fluctuations in raw material prices. Consequently, revenues decreased to 78.28 million riyals from 116.21 million riyals in the same period last year. For the first half of the year, net profit fell to 13.21 million riyals from 16.84 million riyals in the same period of the previous year, with the ongoing impact of sluggish sales and geopolitical conditions affecting financial performance.
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