18 Hrs
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مباشر
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Alwasail Q3 profits fall
Alwasail Industrial Company’s third-quarter 2026 profit fell 37.59% to SAR 5.84 million, compared with SAR 9.366 million a year earlier, despite a 14.38% increase in revenue to SAR 116.73 million. The company attributed sales growth to higher sales of pipes and fittings and the resumption of credit sales to major customers. Profit was weighed down by a 312% increase in the allowance for credit losses, as part of a precautionary policy to address geopolitical conditions. In the first nine months of the year, sales fell 11.38% to SAR 288.33 million, while net profit declined 27.27% to SAR 19.06 million, affected by delays in the start of some projects.
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