Fitaihi 9M 2026 profit falls 96% to SAR 157,000; Q3 loss at SAR 2.9M

Fitaihi Holding Group reported a net profit of SAR 157,000 in 9M 2026, down 96% from SAR 4.4 million in 9M 2025.

The company attributed the annual decline in profits to lower dividends from equity instruments measured at fair value through other comprehensive income (FVOCI), which fell to SAR 8.5 million in 9M 2026 from SAR 10 million. This is in addition to a decrease in the company’s share of an associate’s results to SAR 1.3 million from SAR 2 million.

Other factors included a 5.7% year-on-year (YoY) increase in selling, distribution, general and administrative expenses to SAR 20.4 million in 9M 2026, compared to SAR 19.3 million in the same period of 2025, as well as the recognition of other expenses amounting to SAR 300,000, against other miscellaneous income of SAR 1.9 million a year earlier.

This came despite a 3.1% YoY increase in sales to SAR 33.4 million, compared to SAR 32.4 million in 9M 2025, and an 8.7% YoY decline in zakat expenses to SAR 2.1 million.

In Q3 2026, the company widened its losses by 22.5% YoY, mainly due to an 18.7% YoY decline in sales to SAR 10 million from SAR 12.3 million, coupled with the recognition of other expenses amounting to SAR 300,000, compared to other income of SAR 2 million in Q3 2025.

These pressures were partially offset by a turnaround in the company's share of an associate's results, which shifted from a loss of SAR 1 million in Q3 2025 to a profit of SAR 600,000 in Q3 2026, alongside a 25.6% decline in zakat expenses to SAR 670,000 and a 3% decrease in selling, distribution, general and administrative expenses to SAR 6.5 million.

Sequentially, the company shifted to a loss from a profit in Q2 2026. This was mainly due to the absence of dividend income from equity instruments measured at FVOCI, compared to SAR 7.7 million in the previous quarter, as well as a decline in its share of an associate's results to SAR 600,000 from SAR 2.9 million.

The decline in sales by 3.8% to SAR 10 million, compared to SAR 10.4 million in Q2 2026, and a 34% increase in zakat expenses to SAR 670,000 also contributed.

Total shareholders' equity, excluding minority interest, reached SAR 481.1 million at the end of September 2026, compared to SAR 474.4 million a year earlier.

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