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United International Holding Company (“Tasheel”) reported an 82.3% year-on-year decline in third-quarter 2026 net profit to SAR 14.42 million, compared with SAR 81.55 million, and a 70.1% drop from the previous quarter. The company attributed the decline mainly to a SAR 69.7 million increase in impairment losses on financial assets, including additional provisions and an update to its expected credit loss model. By contrast, revenue rose 3.34% to SAR 205.88 million, while gross profit increased 4.42% to SAR 181.71 million. The auditor’s report included a qualified conclusion regarding a change to the write-off criteria for certain exposures, which resulted in the recognition of an additional SAR 19.7 million in expected credit losses.
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