Sharif profits fall to 16.3M Riyals in Q2

Shree Trading Company's profits declined by 1.83% in the second quarter of 2026, reaching 16.28 million riyals, despite a 39.77% increase in revenues to 169.25 million riyals. This growth was driven by a 137% surge in used car sales and a 17% increase in leasing revenues. Half-year profits rose by 8.18% to 34.66 million riyals, with revenue during the first half increasing by 42.45% to 317.7 million riyals, supported by growth in used car sales and leasing. The drop in net profit was caused by an increase in the expected credit loss allowance.

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