BinDawood posts SAR 119.7M profit for H1 2026; Q2 at SAR 49.6M

BinDawood Holding Co. reported a slight increase in net profit to SAR 119.7 million for H1 2026, compared with SAR 118.95 million a year earlier.

The company attributed the increase to a 9.7% year-on-year (YoY) rise in revenue to SAR 3.45 billion.

Gross profit rose 8.9% YoY to SAR 1.16 billion, with the gross margin holding steady at 33.5%, supported by improved supplier investments, greater efficiency from integrating pharmacies into retail stores, and a better product mix.

Operating profit increased 22% to SAR 211.3 million, driven by business diversification, recent acquisitions, improved retail operating efficiency and tighter cost management.

Operating expenses rose to SAR 948 million from SAR 892.4 million, mainly due to the full-period consolidation of the pharmacy business and Toy Triangle, ongoing costs related to the company's 2025 expansion, and one month of operating expenses from Vaza Foods Co. following its acquisition on June 1, 2026.

Net profit for Q2 2026 fell 4.3% YoY to SAR 49.6 million from SAR 51.8 million.

The company attributed the decline to higher operating expenses, which increased to SAR 476.3 million from SAR 453.9 million.

The decline was partly offset by an 11.4% increase in revenue to SAR 1.64 billion, driven by growth in the retail, distribution and IT segments, partly offset by lower pharmacy revenue following changes to the Wasfaty program.

Gross profit rose 8.1% YoY to SAR 576.4 million, while operating profit increased 25.7% to SAR 101.1 million, supported by higher revenue, improved operating efficiency and tighter cost control.

On a quarterly basis, net profit fell from SAR 70.13 million in Q1 2026.

Total shareholders' equity, after minority interest, stood at SAR 1.6 billion as of June 30, 2026, compared with SAR 1.41 billion a year earlier.

Attached Documents