Saudi Manpower Solutions Co. announces its Interim Financial results for the Period Ending on 2026-03-31 ( Three Months )

• Growth in the Corporate Segment revenues by 11.5%, equivalent to an increase of SAR 37.1 million, due to higher demand for services.

• Growth in the Individuals Segment revenues by 18.9%, an increase of SAR 29.1 million, due to higher demand for services.

• A decline in Logistics and Other Segments revenues by 4%, equivalent to SAR 2.0 million, within the normal fluctuations in activity.

• Revenue increased by 11.9%, equivalent to SAR 59.0 million, compared to the same quarter of the previous year, as mentioned above.

• Gross profit increased by 23%, equivalent to SAR 16.0 million, due to higher gross profit across the main segments: Corporate Segment gross profit grew by 19.8% (SAR 7.3 million) and Individuals Segment gross profit grew by 36.6% (SAR 8.7 million), driven by higher demand, continued implementation of margin improvement initiatives, and diversification of the workforce portfolio to meet market needs.

• General and administrative expenses increased by SAR 1.3 million, mainly due to higher employee costs.

• Selling and marketing expenses increased by SAR 1.3 million due to higher sales activity and revenues.

• The provision for doubtful debts increased by SAR 4.7 million, in accordance with the expected credit loss model.

• An impairment loss on vendor advance payments of SAR 3.7 million was recorded.

• Other income increased by SAR 1.9 million, mainly due to recording a gain on the sale of fully depreciated assets of approximately SAR 1.6 million.

• Losses from the investment in Waad Khadmat Al Munzal for Marketing decreased by SAR 1.6 million, in line with Waad's business plan launched at the beginning of 2025.

• Gross profit increased by 6.3%, equivalent to SAR 5.1 million compared to the previous quarter, primarily driven by Corporate Segment gross profit growth of 19.3% (SAR 7.2 million) and Individuals Segment gross profit growth of 3.5% (SAR 1.1 million).

• Operating profit increased by 12.7%, equivalent to SAR 5.8 million compared to the previous quarter, driven by the SAR 5.1 million increase in gross profit, alongside a SAR 5.7 million decrease in general and administrative expenses resulting from year-end provisions for employee incentives and end-of-service benefits recorded in the previous quarter — despite recording an impairment loss on vendor advance payments of SAR 3.7 million in the current quarter that was not present in the previous quarter.

• Other income increased by SAR 2.1 million, mainly due to recording a gain on the sale of fully depreciated assets of approximately SAR 1.6 million in the current quarter. Losses from the investment in Waad Khadmat Al Munzal for Marketing also decreased by SAR 0.76 million, in line with Waad's business plan launched at the beginning of 2025.