AlMajid Oud profits reach 26.8M SAR in Q2
Majed Al-Oud Company's profits in the second quarter of 2026 decreased by 75.66% compared to the previous quarter, while the annual profit margin increased by 10.29%. The company achieved a net profit of 26.8 million riyals, compared to 24.3 million riyals in the same period last year. However, profits declined significantly from the previous quarter, which totaled 110.1 million riyals, due to seasonal factors, as its activity depends on the Islamic calendar seasons, specifically Ramadan and Hajj. For the first half of 2026, net profit declined by 5.72% to 136.9 million riyals, despite an increase in revenues by 5.9% to 655.3 million riyals, supported by an increase in the number of branches and digital sales. The profitability decline is attributed to expansion costs and new store openings, with expectations that investments and new initiatives will enhance financial performance in the future.
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