Financial Results : Al Mawarid posts SAR 99.3M profit in 9M 2025; Q3 at SAR 37M

Al Mawarid posts SAR 99.3M profit in 9M 2025; Q3 at SAR 37M

06/11/2025 Argaam Exclusive

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Al Mawarid Manpower Co. posted a net profit of SAR 99.3 million in the first nine months of 2025, up from SAR 66.7 million in the year-earlier period.



Financials (M)

Item 9m 2024 9m 2025 Change‬
Revenues 1,468.93 1,891.82 28.8 %
Gross Income 133.76 168.93 26.3 %
Operating Income 73.79 111.34 50.9 %
Net Income 66.74 99.30 48.8 %
Average Shares 15.00 15.00 -
Earnings Per Share before unusual items (Riyals) 4.45 6.97 56.7 %
EPS (Riyal) 4.45 6.62 48.8 %

The profit increase was driven by a 29 percent year-on-year rise in revenue, driven by a 21% increase in the average number of workforce. Revenues in the corporate segment increased by SAR 375 million, or 32% YoY, amid increased demand for the group’s services, with the group signing certain major contracts during the period.

 

Revenues in the individual segment also grew by SAR 48 million, or 15% YoY, driven by a 12% increase in the workforce and higher utilization rates.

 

The group’s gross profit rose by 26% YoY, or SAR 35 million, mainly due to higher revenues and improved margins in the individual segment.

 

General, administrative, and marketing expenses for the current period climbed by SAR 11 million, or 29% YoY, mainly due to higher workforce-related costs and increased marketing expenses.

 

Meanwhile, impairment loss on trade receivables fell by SAR 14 million, primarily due to certain non-recurring specific provisions recognized in the same period last year.

 

In Q3 2025, net profit jumped by 116.3% to SAR 37 million from SAR 17.1 million in Q3 2024.

 

On a sequential basis, the bottom line grew 14.2% from SAR 32.38 million in Q2 2025.



Current Quarter Comparison (M)

Compared With The
Item Q3 2024 Q3 2025 Change‬
Revenues 548.20 678.78 23.8 %
Gross Income 46.85 61.20 30.6 %
Operating Income 19.51 42.17 116.1 %
Net Income 17.10 36.98 116.3 %
Average Shares 15.00 15.00 -
Earnings Per Share before unusual items (Riyal) 1.14 2.67 133.8 %
EPS (Riyal) 1.14 2.47 116.3 %

Shareholders’ equity, after minority interest, reached SAR 463 million as of Sept. 30, 2025, up from SAR 377.62 million a year earlier.

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