Riyadh — Mubasher: Multi Business Group Company recorded net profits of SAR 5.79 million for the six-month period ending 30 June 2026, up 32.95% from SAR 4.35 million in the first half (H1) of 2025.
The profit growth came despite a 7.56% decline in total revenue, which fell to SAR 70.08 million from SAR 75.82 million, according to a bourse filing.
The company attributed the revenue drop primarily to the contracting sector, its largest division representing 90% of total income.
Contracting revenues decreased 14.76% to SAR 62.90 million due to project mix variations and execution stages. This was partially offset by the building materials sector, where revenue surged 256.72% to SAR 7.20 million on higher sales volumes.
Profitability improved as gross profit rose 10.20% to SAR 9.30 million, with gross margins expanding to 13.25% from 11.11%.
Management cited better project margins and a reduction in salaries and wages to align with current activity levels.
Earnings per share (EPS) rose to SAR 0.13 from SAR 0.10. The company disclosed a backlog of unexecuted works valued at SAR 261.20 million and new contract awards totaling SAR 114.30 million.
On 19 July, Multi Business Group renewed its Sharia-compliant credit facility agreement with the Saudi National Bank (SNB) at a total value of SAR 10 million.
