Saudia Darb profits rise 39.6% Q2 2026
Darb Saudi Investment Company announced a 39.61% increase in its net profits during the second quarter of 2026, reaching 2.19 million riyals compared to 1.57 million riyals in the same period of the previous year. This was despite a 12.88% decline in revenues, which fell to 4.01 million riyals, due to lower occupancy rates and professional fee expenses. The results also showed a 40.05% rise in operating profits, driven by the reversal of credit loss provisions and reduced expenses. The net profits for the half-year period reached 3.16 million riyals, an increase of 9.16%, with shareholders' equity remaining steady at 232.99 million riyals. The company faced criticism regarding the formation of a provision for losses resulting from an asset deal with Al-Satia Modern Contracting Company, following a decrease in asset value due to depreciation.
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