Maintenance Machines profit drops to 3.7M riyals
Machinery Maintenance Company announced an 18.86% decline in its net profit during the first half of 2026, reaching 3.70 million riyals compared to 4.56 million riyals in the same period last year. Despite fluctuations in profitability, the company recorded a 6.78% increase in total sales and revenues, which amounted to 28.19 million riyals versus 26.40 million riyals last year, driven by efforts to attract new customers and increased demand for its products and after-sales services. Additionally, earnings per share decreased to 1.55 riyals, while equity grew by 3.27%. The company is also preparing to apply International Financial Reporting Standard 18 starting from January 2027.
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