SMASCO CEO sees continued positive performance in Q1 2026

Abdullah Altimyat, CEO of Saudi Manpower Solutions Co. (SMASCO)

Saudi Manpower Solutions Co.’s (SMASCO) positive performance is expected to continue during the first quarter of 2026, as it coincided with the holy month of Ramadan, which saw increased demand for labor services, especially in the individuals segment, CEO Abdullah Altimyat told Argaam in an interview.

Altimyat explained that the rise in the company’s Q4 2025 profit was driven by revenue growth and improved profit margins, particularly in the domestic labor segment, which saw notable improvement year-on-year. He noted that the earlier period had been affected by supply-demand imbalances, which were addressed at the beginning of 2025 through ministerial regulations governing domestic labor ratios.

The company’s main segments also posted stronger results, with revenues from the business and individuals segments rising 13% and 26%, respectively, driven by increased operational activity and higher demand for workforce services, the CEO added.

SMASCO aims to expand its workforce across multiple sectors while improving profit margins through more efficient management of its labor portfolio in line with domestic market needs, Altimyat said, noting that this was reflected in improved margins in the individuals segment this year.

He also noted that the company’s operations were not impacted by the current geopolitical conditions, as its activities are limited to the domestic market that enjoys a robust economy and positive future outlook indicators.

According to Argaam data, SMASCO’s profits rose to SAR 150.6 million by the end of 2025, compared to SAR 126.4 million in 2024. Q4 profit was up 72% YoY to SAR 40 million.