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Al-Hulool Al-Mutasaree profits fall 73% in H1 2026
The Rapid Solutions Company for Communications and Information Technology reported a significant decline in its profits during the first half of 2026, decreasing by approximately 73.09%. Net profits fell to 8.78 million riyals compared to 32.66 million riyals in the same period of the previous year. The company's revenues also dropped by 32.14% to reach 182.67 million riyals, due to a decline in sales across various service sectors, delays in the approval of some major projects, and the impact of fluctuations in raw material prices on profit margins. Despite the decline in profits, the company experienced a modest growth of 2.75% in total shareholders’ equity, with the financial statements confirmed to be accurate and free of any reservations from the auditors.
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