Modern Mills generates SAR 119.5m net profits in H1-26

MODERN MILLS
2284 -0.49% 28.40 -0.14

Riyadh - Mubasher: Modern Mills for Food Products Company logged net profits valued at SAR 119.33 million for the first half (H1) of 2026, a 3.48% increase compared to SAR 115.31 million a year earlier.

The company attributed the growth to a 12.84% hike in revenues, which reached SAR 578.18 million, supported by higher sales volumes in its three main categories and improved pricing for bran and feed.

For the second quarter ending on 30 June 2026, net profit rose by 7.57% year-on-year (YoY) to SAR 53.43 million. Quarterly revenue climbed by 19.65% to SAR 296.95 million as the company benefited from an optimized product mix in the flour segment.

However, net profit declined by 18.93% compared to the first quarter (Q1) of 2026, which the company linked to seasonal impacts during Ramadan and higher operating expenses.

Operating profit for the six-month period stood at SAR 139.56 million, up 7.05% from the previous year.

Earnings per share (EPS) for H1-26 reached SAR 1.47, compared to SAR 1.42 a year earlier.

Total shareholders' equity, excluding non-controlling interests, increased by 21.70% to SAR 361.27 million.

Modern Mills named Majed Mazen Nofal as its new CEO. This appointment marks the conclusion of the interim leadership period held by Ahmed Abdul Karim Hegazy, who has served as the acting CEO since 23 February 2026.

Source: Mubasher Source: {{details.article.source}}