Al Majid Oud Q2 profits reach 26.8M

Al Madjid Al Oud Company's profits increased by 10.29% in the second quarter of 2026, reaching 26.8 million SAR compared to 24.3 million SAR in the same period last year. However, they declined by 75.66% compared to the previous quarter due to seasonal factors, as reliance on Ramadan and Hajj seasons led to fluctuations in earnings and revenues. For the first half of 2026, profits decreased by 5.72% to 136.9 million SAR, despite a 5.9% increase in revenues to 655.3 million SAR, with the impact of expansion costs and administrative expenses affecting overall profitability. Equity increased by 20.67% to 617.7 million SAR, but earnings per share fell to 5.48 SAR, with expectations of improved performance in the future driven by new investments and initiatives.

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