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Shaker profits fall 65.7%
Al Hassan Ghazi Ibrahim Shaker Company’s profit attributable to shareholders fell 65.7% year on year in the third quarter of 2026 to SAR 6.12 million, despite rising 15.1% from the previous quarter. Revenue increased 2.7% to SAR 354.1 million, while gross profit declined 5% and operating profit fell 54.6%. The company attributed the drop in profitability to lower sales of high-margin projects and narrower margins on those projects, as well as higher logistics costs and selling and distribution expenses. Lower financing costs, however, helped support profits.
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