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Maintenance Machinery's H1 profit drops to 3.7M SAR
Maintenance Equipment Company announced a decline in its net profits by 18.86% in the first half of 2026, dropping to 3.70 million SAR from 4.56 million SAR in the same period of the previous year. This decrease was due to narrower profit margins resulting from increased competition and higher sales costs. Despite this, sales and revenues increased by 6.78% year-on-year, reaching a total of 28.19 million SAR, supported by its strategy to attract new customers and boost demand for its products and after-sales services. Earnings per share decreased to 1.55 SAR from 1.90 SAR, while shareholders' equity grew by 3.27% to 47.97 million SAR. The company plans to implement International Financial Reporting Standard 18 starting January 2027, with an assessment of the financial and technical impacts of this change.
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