Financial Results : Tamkeen H1 2025 profit rises 42% to SAR 53M; Q2 at SAR 27M

Tamkeen H1 2025 profit rises 42% to SAR 53M; Q2 at SAR 27M

10/08/2025 Argaam Exclusive

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Tamkeen Human Resource Co. reported a net profit of SAR 53 million in H1 2025, up 42% from SAR 37.3 million in the prior-year period.



Financials (M)

Item 6m 2024 6m 2025 Change‬
Revenues 314.68 508.01 61.4 %
Gross Income 62.88 95.63 52.1 %
Operating Income 34.22 52.24 52.6 %
Net Income 37.22 52.33 40.6 %
Average Shares 26.50 26.50 -
Earnings Per Share before unusual items (Riyals) 1.40 1.97 40.6 %
EPS (Riyal) 1.40 1.97 40.6 %

This is primarily spurred by a 61.4% year-on-year (YoY) increase in consolidated revenue in the first half.

 

Gross profit rose by 52.1% YoY due to a 64.3% increase in gross profit from the corporate segment and subsidiaries, as well as an 8% rise in gross profit from the individual services segment.

 

Operating profit increased by 52.6% YoY, despite a 27.3% increase in general and administrative expenses, as well as marketing costs. The rise in expenses was mainly due to higher provisions for losses on advances to external recruitment agencies and increased employee salaries and benefits, reflecting the company’s ongoing investment in human capital.

 

Additionally, the expected credit loss provisions increased by SAR 7.4 million, in accordance with the expected credit loss model developed by the external advisor. This adjustment aligns with the increase in trade receivables, which is a direct consequence of the company’s revenue growth.



Current Quarter Comparison (M)

Compared With The
Item Q2 2024 Q2 2025 Change‬
Revenues 169.31 265.19 56.6 %
Gross Income 32.35 46.60 44.0 %
Operating Income 17.12 27.04 58.0 %
Net Income 18.65 26.70 43.2 %
Average Shares 26.50 26.50 -
Earnings Per Share before unusual items (Riyal) 0.70 1.01 43.2 %
EPS (Riyal) 0.70 1.01 43.2 %

Q2 2025 net profit jumped 44% to SAR 27 million, compared to SAR 18.7 million in Q2 2024.

 

On a sequential basis, net profit grew 5.4% from SAR 25.63 million in Q1 2025.

 

Shareholders’ equity, no minority interest, reached SAR 348 million by June 30, 2025, compared to SAR 302.2 million a year earlier.

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