Taiba Investments witnesses 32% lower profits in Q2-26

TAIBA
4090 -2.79% 18.13 -0.52

Riyadh – Mubasher: Taiba Investments Company posted 32.02% year-on-year (YoY) lower net profits in the second quarter (Q2) of 2026, with earnings falling to SAR 72.80 million from SAR 107.10 million.

The company attributed the decline to the absence of a one-off legal settlement gain recorded in 2025 and increased operating expenses related to its expanding hotel portfolio.

Quarterly revenue hiked by 1.83% to SAR 376.80 million, driven by higher Hajj and Umrah seasonal demand and the addition of new properties, including the Rixos Obhur Resort in Jeddah and Novotel Madinah. However, total profit for the quarter fell by 9.26% to SAR 113.60 million.

For the first half (H1) of 2026, net profit reached SAR 197.60 million, a 17.11% decrease compared to SAR 238.40 million in the prior-year period. Half-year revenue grew 4.76% to SAR 762.50 million.

The company noted that earnings per share for the period stood at SAR 0.40, adjusted for a capital increase to 500 million shares approved on 10 May 2026.

Total shareholders' equity was reported at SAR 6.92 billion, representing a 1.76% increase from the previous year.

In Q1-26, Taiba Investments announced SAR 124.80 million in net profit, down 4.95% YoY from SAR 131.30 million.

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