Thob Al Aseel’s net profits hit SAR 88.5m in 9M-26; revenues climb 11%

ALASEEL
4012 -0.63% 3.15 -0.02

Riyadh – Mubasher: Thob Al Aseel Company logged net profits amounting to SAR 6.77 million for the third quarter (Q3) of 2026, an annual rise of 13.02% from SAR 5.99 million.

The growth in bottom-line earnings was achieved despite a 1.86% decline in quarterly revenue, which fell to SAR 79.49 million from SAR 81 million due to lower sales volumes.

The company attributed the profit rise to improved profit margins from high-margin product lines and gains from the fair value revaluation of investments.

In the first nine months (9M) of 2026, the net profits climbed by 13.13% to SAR 88.51 million from SAR 78.24 million a year earlier. Earnings per share (EPS) stood at SAR 0.22.

Total revenue for the nine months grew by 10.77% to SAR 436.25 million, driven by strong product demand, export growth, and higher e-commerce sales.

Operating profit for the period rose by 7.91% to SAR 105.01 million.

On a sequential basis, third-quarter net profit fell by 55.75% from SAR 15.30 million in Q2-26.

Management cited seasonal demand fluctuations following the Eid Al-Adha peak and an increase in expected credit loss provisions as primary factors for the quarter-on-quarter decline. 

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