Maharah earns SAR 133.3M in 9M 2025, SAR 44.5M in Q3

Maharah Human Resources Co. recorded a profit rise of 7.4% to SAR 133.3 million in the first nine months of 2025, from SAR 124.1 million in the prior-year period.

The profit growth was attributed to a 40% year-on-year (YoY) increase in revenue on higher income across the company’s main segments. Average workforce rose by 35%, supporting a 51% jump in business services revenue due to a 46% increase in manpower and continued demand growth, along with strategic contracts secured with clients.

Retail services revenue also grew by 14% YoY, supported by an 11% rise in workforce numbers, higher operating rates, and improved operational efficiency.

Gross profit rose by SAR 16%, or SAR 30.9 million, to SAR 228 million, mainly due to stronger performance in core segments, particularly business services, and better profit margins in retail services following efficiency initiatives and cost optimization.

Operating profit increased by 24%, or SAR 27.7 million, to SAR 145 million, reflecting the overall growth in gross profit during the period.

On the other hand, gross profit margins in the business services segment were under pressure despite higher revenues, due to efforts to retain strategic clients and sustain growth in both revenue and workforce.

General and administrative expenses rose by SAR 7.5 million, driven by investments in human capital through incentive programs, training, and recruitment initiatives.

Selling and marketing expenses increased by SAR 2 million to support revenue growth.

In Q3 2025, Maharah’s earnings surged 96.3% to reach SAR 44.5 million, compared to SAR 22.6 million in the third quarter of 2024.

On a sequential basis, net earnings inched up by 0.2% from SAR 44.38 million in Q2 2025.

Shareholders’ equity, excluding minority interest, reached SAR 738.2 million as of Sept. 30, 2025, up from SAR 621.3 million a year earlier.

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