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Sanaat Q3 profits dip
Advanced Building Industries Company’s third-quarter 2026 profit fell 98.63% year on year to SAR 1.04 million, compared with SAR 75.56 million in the same period of 2025, and declined 97.82% from the previous quarter. Sales fell 9.07% to SAR 1.43 billion, weighed down by lower revenue from the construction, steel and insulation segments. The company attributed the profit decline mainly to lower gross profit and operating income in the air-conditioning and insulation segments, as well as a smaller share of results from associates and joint ventures. In the first nine months of 2026, profit fell 55.21% to SAR 49.76 million, while sales declined 7.8% to SAR 4.2 billion. The auditor’s report included a qualified conclusion due to discrepancies and shortages in the air-conditioning segment’s inventory. Inventory-related adjustments amounted to SAR 126 million, and investigations into the discrepancies were ongoing.
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