United Mining's H1 Profit Falls to 9.1M Riyals
United Mining Company's profits declined by 8.51% in the first half of 2026, reaching 9.11 million Riyals compared to 9.96 million Riyals in the same period of the previous year. Despite a 19.20% increase in revenues to 118.33 million Riyals, driven by higher export sales and growth in gypsum products and cement board sales, the rise in cost of revenue, selling and marketing expenses, financing costs, along with a deferred tax expense, led to a decrease in net profit. In May 2026, Knauf International acquired a 63.2% stake in the company and announced its intention to present an offer to acquire 100% of the remaining shares, which is currently under regulatory procedures.
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