Al Mawarid segments see solid revenue growth: CEO

Riyadh Alromaizan, CEO of Al Mawarid Manpower Co., said that all company segments achieved strong revenue growth during Q3 2025, with the corporate segment revenues rising 26% and individual segment revenues increasing 15% compared to Q3 2024.

Speaking in an interview with Argaam, Alromaizan added that the average workforce size at the company grew by 15% year-on-year (YoY) in Q3 2025 and by 5% compared to Q2 2025.

Regarding the 116% surge in net profit, despite a 24% increase in revenue, he explained that this was due to an exceptional, non-recurring provision of SAR 13 million booked in Q3 2024 to cover a specific receivable.

He noted that excluding this one-off impact, the net profit growth for Q3 2025 would stand at 23%, aligning closely with the revenue increase.

As for Q4 2025 outlook, Alromaizan said the company expects to maintain its current performance, while continuing efforts toward further improvement.

According to company Argaam data, Al Mawarid's net profit rose to SAR 99.3 million for the first nine months of 2025, compared to SAR 66.7 million a year earlier, while Q3 2025 profit increased to SAR 36.98 million.