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Safer's Q2 2026 profits soar
Sera Holding Company reported a significant increase in its profits during the second quarter of 2026, with net profit soaring by 2,566.7% to reach 80 million riyals, compared to 3 million riyals in the same period of the previous year. This growth was driven by improved profitability in Al Musafir Company and non-recurring gains from deferred payments from Careem and proceeds from the sale of divested assets. Additionally, the group's revenues increased by 3.7% to 1.25 billion riyals, while gross profit rose by 14.1% to 509 million riyals. Operating profit leapt by 110% to 126 million riyals. For the first half of the year, net profit grew by 205% to 122 million riyals, with revenues increasing by 1.3% to 2.34 billion riyals, marked by record gains from Al Musafir and growth in the hospitality sector, influenced by the seasonal effects of Hajj and Ramadan.
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