TAM profit rises 2% to SAR 11.6M in H1 2025

TAM Development Co.’s net profit rose 2% to SAR 11.6 million in H1 2025, compared to SAR 11.4 million a year earlier.

Net profit margin rose to 14.5% from 9.5% in H1 2024, reflecting an improved project mix and overall profitability, along with enhanced operational efficiency and disciplined cost management. This helped offset revenue pressures and higher financing costs (FCs) during the same period.

In addition, TAM witnessed a partial offset of lower consulting revenues through the performance of the company’s digital solutions segment, which recorded revenues of SAR 21.4 million in H1 2025, representing 31% year-on-year (YoY) growth.

This was despite an increase in FCs to SAR 1.3 million and 33.7% decline in revenues, due to a temporary slowdown in consulting sales caused by delays in awarding new public-sector projects, in addition to the natural timing of certain project phases within existing contracts being shifted to H2 2025.

TAM noted that with the resumption of lower-margin projects, management expects profitability to return to normal levels in H2 2025.

H1 2025 profit dropped 38% from SAR 55.99 million in H2 2024.

Additional Information:

The company added that shareholders’ equity (with no minority interest) stood at SAR 145.3 million at the end of the period, compared to SAR 117.71 million at the end of the same period last year.

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