Ratel's H1 profits fall 85.5% despite sales rise
The preliminary financial results of Real Investment and Development Company show an 85.5% decline in net profits in the first half of 2026, reaching approximately 794,000 riyals compared to 5.5 million riyals in the same period last year. The main reason for the decline is the rise in spare parts, oils, and shipping costs due to current conditions, along with increased depreciation expenses on the vehicle fleet. Despite these challenges, the company’s sales increased by 2.08%, reaching 75.33 million riyals, mainly driven by a 27% growth in used car sales, despite a 6.8% decrease in rental revenues.
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