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Al-Sanat Electric Q3 profits reach 177.7M Riyals
Electrical Industries Company’s profits rose to 177.69 million SAR in the third quarter of 2026, an increase of 10.32% compared to the same period last year. This growth is attributed to higher sales, product diversification, and a recovery in profit margins, despite elevated financing costs. Total sales reached 630.49 million SAR, up by 12.58% from the same period in 2025, while gross profit decreased by 4.29% and operating profit by 1.11%. For the first nine months of 2026, the company recorded profits of 579.99 million SAR, reflecting a 37.69% increase, with sales growing to 2 billion SAR, a 25.18% rise. This growth is primarily driven by strong demand in the construction, infrastructure, and oil and gas sectors in Saudi Arabia, although quarterly sales declined due to delays in project deliveries caused by geopolitical conditions and rising shipping and insurance costs.
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