Financial Results : Maharah 2025 profit jumps to SAR 272.8M, Q4 at SAR 139.5M on one-off gains

Maharah 2025 profit jumps to SAR 272.8M, Q4 at SAR 139.5M on one-off gains

29/03/2026 Argaam Exclusive

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Maharah Human Resources Co. posted a net profit rise to SAR 272.8 million in 2025 from SAR 175.3 million a year earlier.



Financials (M)

Item 2024 2025 Change‬
Revenues 2,235.43 3,112.46 39.2 %
Gross Income 258.62 327.48 26.6 %
Operating Income 154.89 200.72 29.6 %
Net Income 175.28 272.77 55.6 %
Average Shares 475.00 475.00 -
Earnings Per Share before unusual items (Riyals) 0.37 0.34 (7.0 %)
EPS (Riyal) 0.37 0.57 55.6 %

The company attributed the increase in profits to a 39% rise in revenue, driven by higher average workforce numbers across its main segments.

 

Revenue growth was supported by a 50% increase in business services revenue, driven by higher demand, strategic contracts, and a 76% rise in Saudi workforce outsourcing.

 

It was also supported by a 15% increase in individual services revenue, due to higher workforce numbers, improved utilization rates, and better operational efficiency.

 

Gross profit rose 27% to SAR 327 million, while other income increased and provisions for doubtful debts declined.

 

The company also recorded a non-recurring capital gain of SAR 105 million from the sale of its full stake in Care Shield Holding Co., while financing costs (FCs) fell by SAR 3 million during the year.

 

Net profit increased by 172.7% in Q4 2025 to SAR 139.46 million, compared with SAR 51.14 million in Q4 2024.

 

On a sequential basis, net profit also rose by 213.6%, compared with SAR 44.46 million in Q3 2025.



Current Quarter Comparison (M)

Compared With The
Item Q4 2024 Q4 2025 Change‬
Revenues 621.41 856.53 37.8 %
Gross Income 61.23 99.21 62.0 %
Operating Income 37.45 55.54 48.3 %
Net Income 51.14 139.46 172.7 %
Average Shares 475.00 475.00 -
Earnings Per Share before unusual items (Riyal) 0.11 0.07 (32.6 %)
EPS (Riyal) 0.11 0.29 172.7 %

Total shareholders’ equity, no minority interest, reached SAR 876.04 million as of Dec. 31, 2025, up from SAR 625.12 million a year earlier.

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