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Riyal profits fall 85.5% in H1 2026
The results of Riyal Investment and Development Company for the first half of 2026 showed a significant decline in profits, decreasing by 85.5%, with net profits amounting to 794 thousand riyals compared to 5.5 million riyals in the same period of the previous year. Despite a 2.08% increase in sales to reach 75.33 million riyals, the primary reasons for this decline were higher costs for spare parts, oils, and shipping due to current conditions, in addition to increased depreciation expenses resulting from higher vehicle purchase costs. On the performance front, sales of used cars grew by 27%, even though rental revenues decreased by 6.8%.
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