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Watch's H1 profits drop 73.91 percent
Wasm for Information Technology Services' profits decreased by 73.91% in the first half of 2026, reaching 812,470 SAR, compared to approximately 3.11 million SAR in the same period last year. This decline was due to a 54.8% decrease in government sector revenues as a result of fewer government projects. Despite this, the company experienced a significant growth in private sector sales, which increased by 147.9% to reach 9.38 million SAR. Total sales declined by 27.56% to 20.39 million SAR, with operating profits of 1.26 million SAR and a total profit of 5.31 million SAR.
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