Cenomi Centers H1 2026 profit at SAR 588.2M; Q2 at SAR 385.7M

Arabian Centres Co. (Cenomi Centers) reported a net profit of SAR 588.2 million in H1 2026, down from SAR 689.8 million a year earlier.

The company attributed the decline in net profit primarily to a decrease in revenue to SAR 1.15 billion in H1 2026 from SAR 1.17 billion in H1 2025.

However, on a like-for-like basis, revenue increased 2.7% year-on-year (YoY), supported by stronger underlying operating performance and a 6.8% increase in visitor numbers to a record 70 million.

The company also cited an increase in net financing costs to SAR 436.6 million from SAR 310.4 million, a decline in other operating income to SAR 8.1 million, higher general and administrative expenses to SAR 179 million, and a rise in advertising and promotional expenses to SAR 21.9 million.

These factors were partially offset by a 73% decline in impairment losses on receivables, related parties, and accrued revenue to SAR 41.5 million, compared with SAR 153.5 million in H1 2025. As a result, operating profit increased 2% to SAR 1.05 billion.

Q2 2026 net profit fell 18.4%, compared to SAR 472.9 million in Q2 2025, due to higher net finance costs YoY and lower net fair value gains on investment properties.

On a sequential basis, net profit grew 90.5% from SAR 202.49 million in Q1 2026, driven by the increase in net fair value gain on investment properties and lower impairment losses.

Shareholders’ equity, after minority interest, reached SAR 16.1 billion by June 30, 2026, compared to SAR 15.1 billion a year earlier.

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