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2026-11-11T15:23:55.007Z

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Al-Rashid Q3 profit falls

Al-Rashid Q3 profit falls

Mohammed Hadi Al Rashid & Partners Company (“Al Rashid”) reported a 28.28% year-on-year decline in third-quarter 2026 profit to SAR 16.49 million, down 20.47% from the previous quarter. The company attributed the decline to a SAR 4.21 million provision for expected credit losses, as well as higher financing costs and administrative expenses, despite an 88.99% increase in revenue to SAR 120.78 million. For the first nine months of the year, profit fell 32.77% to SAR 46.98 million, while revenue rose 33.64% to SAR 324.08 million.

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