Comel profits fall 51.4%

Komel Company’s third-quarter 2026 profit fell 51.41% year on year to SAR 2.44 million, compared with SAR 5.03 million, and was down about 40% from the previous quarter. The company attributed the decline to higher selling, marketing and administrative expenses, an increase in the provision for expected credit losses, and lower gross profit. Revenue fell 12.02% to SAR 35.32 million, weighed down by lower sales to government and quasi-government entities. In the first nine months of the year, net profit declined 64.05% to SAR 6.07 million, compared with SAR 16.88 million in the corresponding period.

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