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Zagu's Q2 profit up 67% thanks to affiliates
The National Industries Glass Company (GASCO) announced its financial results for the second quarter of 2026, achieving a net profit of 33.4 million riyals, representing a 67% increase compared to the same period of the previous year. This growth is primarily attributed to a rise in profit share from associate companies, especially Gardian Ras Al Khaimah, which returned to its normal levels after maintenance shutdown, thereby boosting its profits. Despite a 9.55% decrease in sales in the second quarter due to a decline in production volume, the company recorded a 73.49% growth in profits for the first half of the year, with profits reaching 66.1 million riyals compared to 38.1 million riyals in the previous year. Sales increased to 71.8 million riyals, a 9.95% rise driven by export sales, despite posting a slight operating loss.
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