24 Hrs
Source:
الاقتصادية
Ben Daoud: Developing a health platform with pharmacies as a core part
The article focused on the performance of BinDawood Holding Company during the first half of 2026, highlighting the pharmacy sector as a strategic cornerstone within the group's business portfolio. Despite the sector's revenues being affected by changes in the "Wasfaty" program, the sector demonstrated high resilience with growth in sales outside the program, which helped improve profit quality. In the second quarter, sales increased by 11.4% to 1.6 billion riyals, and operating profit rose by 25.7% to 101.1 million riyals, driven by improved efficiency and expanded pharmacy network, which now exceeds 209 pharmacies in Saudi Arabia. The company continues disciplined expansion through opening new branches, enhancing customer experience, and strengthening loyalty programs, while diversifying income sources—including Vaza Food Company, IT businesses, and other subsidiaries. Although net profit declined, the operational performance reflects strong growth and business sustainability, with plans for international expansion into Qatar and other countries, and an aim to build an integrated health platform focused on healthcare and sustainable growth.
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