Cherry Trading 9M 2025 profit up 16% to SAR 53.2M; Q3 at SAR 21.2M

Cherry Trading Co. posted SAR 53.2 million in net profit for 9M 2025, a rise of 16% from SAR 45.8 million in the first nine months of 2024.

The profit growth was attributed to a 10% year-on-year (YoY) increase in revenue, driven by improved performance in the leasing segment. The long-term leasing segment saw a 15% YoY increase in revenues, while the short-term leasing segment experienced a 36% YoY growth. The growth came despite a slight decline in profit margins across both segments.

Meanwhile, the gross margin inched down to 32% in 9M 2025, while the net profit margin expanded to 15% from 14% a year ago.

EBITDA also improved to SAR 192.5 million in 9M 2025, up from SAR 156.9 million a year earlier, thanks to better operational efficiency and improved management of non-cash costs, as the losses expected from receivables dropped significantly to SAR 2.1 million during this period.

Other operating income jumped to SAR 9 million from SAR 3.7 million, partially offsetting the impact of higher administrative and marketing expenses.

Meanwhile, used car sales revenues declined 14% to SAR 60 million from SAR 69.6 million in the year-earlier period.

In Q3 2025, Cherry Trading’s earnings surged 84.4% to reach SAR 21.2 million, compared to SAR 11.5 million in the third quarter of 2024.

On a sequential basis, net earnings rose 27.8% from SAR 16.59 million in Q2 2025.

Shareholders’ equity, no minority interest, reached SAR 567.87 million as of Sept. 30, 2025, up from SAR 497.75 million a year earlier.