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Komel's H1 profit drops 69 percent
Komal Company announced a significant decline in its profits for the first half of 2026, with net profit dropping by 69.26% to reach 3.64 million Riyals, compared to 11.85 million Riyals in the same period of the previous year. This downturn was accompanied by an 8.07% decrease in revenues, totaling 65.49 million Riyals, due to a reduction in business volume with government entities. Administrative and marketing expenses increased by 3.31 million Riyals, attributed to the operation of a company-owned factory and the costs associated with transferring the market from the parallel market to the main market. These factors led to a decline in profit margin and earnings per share, which fell to 0.52 Riyals. Despite the worsening financial performance, equity increased by 6.11% to 123.95 million Riyals by the end of June 2026.
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