Lamasat First Half Profit Drops to 18.68M
Lamasat Company recorded a 1.34% decline in its profits during the first half of 2026, with a net profit of 18.68 million riyals compared to 18.93 million riyals in the same period last year. Nevertheless, revenues increased by 4.30%, reaching 77.16 million riyals, supported by the opening of a new branch in Yanbu, which contributed 2.2 million riyals, and an increase in sales from other branches by one million riyals. The company's profits, however, declined because the new branch is still in the initial operational phase and bears additional operational costs. Additionally, equity increased by 6.23% to 186.42 million riyals, while earnings per share decreased to 0.23 riyals. The company confirmed that the auditors issued an unqualified opinion on the financial statements for the period.
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