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Tassheel's Q3 profits fall 82%
The financial results of United International Company "Tashil" for the third quarter of 2026 showed a decline in net profit by 82.35% year-over-year, reaching approximately 14.39 million Riyals compared to 81.55 million Riyals during the same period of the previous year. The decrease is mainly due to an increase in financial asset impairment losses amounting to 70.1 million Riyals as a result of conservative credit risk management, excluding an one-time positive impact of 15 million Riyals that supported the results. Nevertheless, the company achieved growth in operational performance, with gross profit increasing by 4.4% to 181.73 million Riyals, and revenues rising by 3.4% to 205.90 million Riyals, supported by a 7.3% growth in the financing portfolio to 3.2 billion Riyals. Over the first nine months of 2026, net profit decreased by 36.24% to 126.99 million Riyals, despite revenue growth of 8.8% to 616.15 million Riyals, supported by the growth of the financing portfolio.
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