Riyadh — Mubasher: Alshehili Company for Metal Industries reported a 56.68% plunge in net profit to SAR 2.33 million during the first half (H1) of 2026, compared to SAR 5.37 million in the same period a year earlier.
The company attributed the decline primarily to lower gross profit resulting from a drop in revenues, alongside decreased other income and higher Zakat expenses, according to a bourse disclosure.
Total revenue for the period fell by 37.27% to SAR 21.10 million from SAR 33.63 million in H1-25.
The company stated that demand was impacted by market conditions, including rising shipping and transportation costs, supply chain disruptions, and a slowdown in expansion across certain sectors. These factors led some customers to delay purchase decisions and orders.
Earnings per share (EPS) stood at SAR 0.93 in H1-26, compared to SAR 2.22 in H1-25.
Despite the decline in earnings, total shareholders' equity increased by 7.18% to SAR 84.81 million in H1-26 from SAR 79.13 million in H1-25.
Alshehili Company noted that the impact of lower revenue was partially mitigated by a reduction in general and administrative expenses and lower financing costs.
Meanwhile, the independent auditor's report was issued with an unmodified opinion.
