Thob Al Aseel H1 2025 profit rises 8% to SAR 72.3M; Q2 at SAR 9.2M

Thob Al Aseel Co. posted a net profit of SAR 72.3 million in the first half of 2025, an increase of 8% compared to SAR 66.7 million in the prior-year period.

The six-month period's bottom line was backed by a relative improvement in profit margins resulting from the sales of high-profit items, in addition to the decrease in the provision for credit losses during the current period due to improved collection rates.

Meanwhile, the company’s sales declined by 4.51% year-on-year (YoY) amid lower sales volumes and the updated credit policy.

In Q2 2025, Thob Al Aseel’s net profit dropped 65.4% to SAR 9.23 million, from SAR 26.67 million in Q2 2024. The decline was attributable to a decrease in sales, which was significantly impacted by the timing difference of the Ramadan season, as sales during this period represent the majority of the company’s annual revenue.

Q2 2025 net earnings also fell by 85.4% from SAR 63.03 million in the previous quarter, as Ramadan sales coincided with the first quarter.

Total shareholders’ equity, no minority interest, rose to SAR 624.82 million as of June 30, 2025, from SAR 612.25 million a year earlier.

View More Financial Results