AI Summary
Nomu trading screen
The Nomu-Parallel Market showed mixed performance in the first half of 2025, reflecting varying operational and financial results across listed companies.
According to available data, around 52 Nomu-listed players witnessed higher profits for the six-month period, compared to H1 2024, while two others managed to shift from losses to profitability. Additionally, three companies succeeded in reducing their losses.
In contrast, 11 Nomu-listed firms turned to losses during the first six months of this year, versus profits in H1 2024. Meanwhile, earnings of another 43 declined year-on-year (YoY), while four others deepened their losses for the same period.
Top Gainers
Nomu’s net profits in the first half of 2025 were dominated by the top 10 most profitable listed companies, which accounted for nearly 50% of the market’s total earnings.
Group Five Pipe Saudi Co. led peers, contributing 11% (or SAR 125.2 million) of Nomu’s overall profits for the first half of 2025.
First Avenue for Real Estate Development Co. came in second, posting the highest growth rate among the top performers at 151% during H1 2025, compared to the same period last year. The surge was primarily driven by the sale of an investment property that generated SAR 18 million in gains.
Gas Arabian Services Co. (GAS) ranked third, with profits growing by 53% YoY, supported by increased activity in contract-based revenues.
|
Top Companies by Profits (SAR mln) |
||||
|---|---|---|---|---|
|
Company |
Activity |
H1 2024 |
H1 2025 |
Change |
|
Group Five |
Pipe sales
|
9.21 |
125.18 |
1259%+ |
|
First Avenue |
Real estate development |
31.05 |
78.14 |
151%+ |
|
GAS |
Oil, gas, petrochemical, and allied services |
45.66 |
70.13 |
53%+ |
|
Adeer |
Real estate marketing and property sales |
38.51 |
68.33 |
+77% |
|
Enma AlRawabi |
Real estate investment and development |
39.80 |
64.92 |
+63% |
|
Al Rasheed |
Marble and granite manufacturing |
36.08 |
46.89 |
+30% |
|
UFG |
Glass manufacturing and sales |
25.99 |
37.27 |
+43% |
|
Axelerated Solutions |
Sales of computers and accessories |
17.43 |
33.81 |
+94% |
|
Nofoth |
Food and beverage sales |
27.14 |
32.70 |
+20% |
|
AME |
Retail of medical devices, equipment, and supplies |
26.59 |
27.91 |
+5% |
|
Armah |
Management of sports clubs |
9.15 |
27.46 |
+200% |
|
Tadweeer |
Waste recycling |
13.04 |
26.64 |
+104% |
|
ProMedEx |
Import and export of medical implants |
12.11 |
22.10 |
+82% |
|
Al Rashid |
Manufacturing of plastic containers and boxes |
17.47 |
21.47 |
+22% |
|
Ladun |
Real estate investment and development |
32.43 |
21.32 |
-34% |
Top Loss-Making Companies
Osool & Bakheet Investment Co. recorded the largest losses among listed companies during the first half of 2025. Arabian International Healthcare Holding Co.’s (Tibbiyah) also posted a loss during the period. While the company had reported a loss last year due to the impairment of goodwill related to its 51% acquisition of Innovative Care, its H1 2025 losses stemmed from increased expenses and costs following its mid-2024 acquisition of Al-Hammad Medical Services Co.
Mayar Holding Co. reported the third-largest loss among peers, impacted by underperformance in both its elevators and feed divisions besides price pressures.
|
Company |
Activity |
H1 2024 |
H1 2025 |
Change |
|---|---|---|---|---|
|
Osool & Bakheet |
Securities and investment management |
11.95 |
(50.76) |
- |
|
Tibbiyah |
Integrated medical solutions for healthcare providers |
(31.81) |
(24.29) |
+23% |
|
Mayar |
Manufacturing of elevators and animal feed |
5.75 |
(11.89) |
- |
|
Alqemam
|
Application and software development and management |
4.59 |
(9.53) |
- |
|
Saudi Parts Center |
Trade of auto parts, equipment, and marine machinery |
0.69 |
(6.27) |
- |
|
Dar Almarkabah |
Car rental |
(0.07) |
(5.37) |
-7168% |
|
Al Battal Factory |
Manufacturing of saline aid products and thermal coating products |
4.54 |
(3.96) |
- |
|
DRC |
Market research, consulting, and data analysis services |
3.19 |
(3.47) |
- |
|
TAQAT |
Manufacturing of primary iron products in the form of substrate blocks |
(4.33) |
(2.93) |
+32% |
|
AICTEC |
Provision of technical and security solutions |
5.16 |
(2.90) |
- |
Top Risers
Topping the list of companies with the highest profit growth and earnings was Group Five, driven by a rise in pipe sales during H1 2025, followed by First Avenue, which recorded significant gains of SAR 18.2 million from the sale of La Perle investment property to the La Perle Real Estate Fund. GAS came in third, with profits soaring by 54% YoY to SAR 24.5 million.
Most of the other companies that saw profit growth in H1 2025 attributed the improvement to higher revenues, either through increased contract volumes or new branch openings, which in turn lifted revenues.
|
Company |
Activity |
H1 2024 |
H1 2025 |
Change |
|---|---|---|---|---|
|
Group Five |
Production and sale of spiral welded steel pipes |
9.21 |
125.18 |
+1259% |
|
Al-Razi |
Pharmaceuticals, medical, cosmetic, and pharmaceutical products |
0.01 |
0.12 |
+1048% |
|
Purity |
Provision of integrated technology solutions |
0.28 |
2.30 |
+731% |
|
iOud |
Manufacturing and production of oud and incense |
0.53 |
1.93 |
+266% |
|
Al-Modawat |
Medical operations for hospitals and pharmacy activities |
3.16 |
10.35 |
+227% |
|
Armah |
Sports clubs |
9.15 |
27.46 |
+200% |
|
First Avenue |
Real estate sector development |
31.05 |
78.14 |
+151% |
|
CMCER |
Medical center operations |
3.37 |
8.28 |
+145% |
|
View |
Real estate development |
4.30 |
9.97 |
+132% |
|
Tharwah |
Management consulting activities |
4.81 |
10.71 |
+122% |
|
Almujtama Alraida
|
Sale of pharmaceutical and medical products |
1.98 |
4.26 |
+115% |
|
Tadweeer |
Recycling of electronic and electrical waste |
13.04 |
26.64 |
+104% |
|
WSM |
Provision of digital and information technology solutions |
1.54 |
3.11 |
+101% |
|
APICO |
Manufacturing of plastic containers and boxes |
5.30 |
10.60 |
+99% |
|
Axelerated Solutions |
Sale of computers and accessories |
17.43 |
33.81 |
+94% |
Top Decliners
Shmoh Almadi Co. topped Nomu-listed companies with the steepest profit decline, attributing the drop to seasonal sales fluctuations and higher raw material costs.
Bena Steel Industries Co. followed, ascribing the pullback in earnings to lower sales revenue and fluctuating iron prices.
WAJA Co. also reported a weaker bottom-line during the first six months of this year, citing a decline in contracts and reduced project volumes as key reasons behind the profit drop.
Balady Poultry Co. recorded a profit slump of nearly 74% in H1 2025, primarily due to lower selling prices amid intense pricing pressure.
Most of the other Nomu-listed players experiencing profit declines pointed to lower sales volumes and a decrease in contract activity as the main contributing factors.
|
Company |
Activity |
H1 2024 |
H1 2024 |
Change |
|---|---|---|---|---|
|
Shomoh Almadi |
Manufacturing and production of traditional and oriental sweets |
5.17 |
0.43 |
-91% |
|
Bena |
Steel slitting services and structural steel fabrication |
5.02 |
0.98 |
-80% |
|
WAJA |
Interior design and information technology |
7.44 |
1.49 |
-80% |
|
Balady |
Poultry production |
71.94 |
18.07 |
-74% |
|
Watani Steel |
Production and manufacturing of iron billets and rebar |
3.41 |
1.12 |
-67% |
|
Twareat |
Medical operations services for hospitals |
16.13 |
5.53 |
-65% |
|
Aqaseem |
Manufacturing of chemical and plastic materials |
5.01 |
1.93 |
-61% |
|
Quara Finance |
Consumer finance and lease financing |
25.25 |
10.06 |
-60% |
|
Atlas Elevators |
Manufacturing, installation, and maintenance of elevators |
9.12 |
4.31 |
-52% |
|
National Building |
Building materials trade |
15.38 |
7.28 |
-52% |
|
Al-Fakhera |
Tailoring and sewing of men’s clothing |
8.54 |
4.68 |
-45% |
|
Al Ashghal Al Moysra |
Maintenance, cleaning, operation, and facility management |
7.36 |
4.03 |
-45% |
|
Riyal |
Car and vehicle rental and sales services |
9.86 |
5.47 |
-44% |
|
Leaf |
Environmental impact assessment |
10.84 |
6.08 |
-43% |
|
Naas Petrol |
Production of lubricating oils for equipment and engines |
5.07 |
2.90 |
-42% |
Companies That Turned to Profitability
Rawasi Albina Investment Co. attributed its improved profits for H1 2025 to an uptick in the volume of executed projects and higher contracting and infrastructure contracts.
Elsewhere, Naseej for Technology Co. (Naseej Tech) cited elevated profit margins, despite a decline in revenues, as the main driver behind its return to profitability in H1 2025.
|
Company |
Activity |
H1 2024 |
H1 2025 |
|---|---|---|---|
|
Rawasi Albina |
Infrastructure works for telecommunications, electricity, and water projects |
(9.75) |
1.20 |
|
Naseej Tech |
Computer programming and computer consultancy activities |
(0.96) |
0.11 |
Companies That Turned to Losses
Arabian Food and Dairy Factories Co. (FADECO) attributed its first-half losses to the rising costs of raw materials and packaging, along with higher fuel prices.
Time Entertainment Co. pointed to seasonal factors as the main reason behind its losses for the same period.
Arabica Star Co. primarily blamed intense competition for its six-month loss-making, noting that several rival brands have expanded their branch network in Qassim, where most of the company’s outlets are located.
|
Company |
Activity |
H1 2024 |
H1 2025 |
|---|---|---|---|
|
FADECO |
Ice cream production and marketing |
3.02 |
(0.02) |
|
Time |
Entertainment event organization |
10.82 |
(1.98) |
|
Arabica Star |
Coffee shop |
1.71 |
(0.84) |
|
AICTEC
|
Providing technical and security solutions |
5.16 |
(2.90) |
|
Al Battal Factory
|
Manufacturing of saline aid products and thermal coating products |
4.54 |
(3.96) |
|
DRC |
Market research, consulting, and data analysis services |
3.19 |
(3.47) |
|
Mayar |
Elevators, escalators, and agricultural feed |
5.75 |
(11.89) |
|
Alqemam
|
Application and software development and management |
4.59 |
(9.53) |
|
Osool & Bakheet |
Securities trading and investment management |
11.95 |
(50.76) |
|
Neft Alsharq
|
Production, sale, and export of gasoline engine oils |
0.32 |
(1.91) |
|
Saudi Parts Center |
Trade of auto parts, equipment, and marine machinery |
0.69 |
(6.27) |
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