Qomel profits slumps 69% to SAR 3.6M in H1 2026

Qomel Co. reported a net profit of SAR 3.6 million in H1 2026, a 69% decline from SAR 11.8 million in the year-earlier period.

Sales/revenue decreased by 8.07%, or SAR 5.75 million, to SAR 65.49 million during the current period, compared with SAR 71.24 million in the year-earlier period, on lower sales to government and semi-government entities.

Gross profit decreased by SAR 4.82 million, or 20.74%, due to lower revenue and a decline in gross profit margin compared with the same period last year.

Selling, marketing, general and administrative expenses increased by SAR 3.31 million, following the start of trial operations at a subsidiary’s factory and the completion of operational readiness requirements. This resulted in the recognition of depreciation and amortization expenses on assets that became available for use.

Further, the company noted expenses related to preparations and procedures for the transition from the Nomu-Parallel Market to the Main Market (TASI), as well as investments in recruiting and training skilled technical personnel and qualified Saudi talent to support the factory’s operational readiness and the group’s future growth plans.

Compared to H2 2025, net profit dropped from SAR 4.89 million.

Total shareholders’ equity, no minority interest, stood at SAR 123.9 million as on June 30, 2026, compared to SAR 116.8 million a year earlier.

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