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CJS's quarterly profit falls to 8.5M despite revenue growth
The preliminary financial results for Union Groenevelder Saadi Holding ("CGS") show a decline in its quarterly profits during the second quarter of 2026. Net profit decreased by 8% year-over-year to reach 8.5 million riyals. Despite a significant increase in the company's revenues, especially in the cooling sector, which grew by 165.8%, this was reflected in a 25.8% rise in total revenues to 111 million riyals. However, profit margins declined due to changes in the revenue mix and a shift towards less profitable sectors, along with a 24.1% decrease in refrigerated transportation revenues. Ultimately, the performance reflects the company's balance between revenue growth and profitability challenges, as it continues to invest and diversify across various sectors.
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