Riyadh – Mubasher: Leejam Sports Company generated net profits valued at SAR 72 million for the third quarter (Q3) of 2026, an annual drop of 11.11% from SAR 81 million.
The decline in profitability occurred despite a 2.73% growth in quarterly revenue, which reached SAR 451 million.
The company attributed the lower profit margins to the rapid expansion of its Fitness Time brand, having added a net total of 18 centers over the past 12 months to reach 232 locations. These newer facilities are currently in a growth phase, generating lower initial revenue while carrying full operating costs.
Additionally, selling, general, and administrative expenses climbed by 9%, and finance costs rose by 4% due to higher loan balances and lease liabilities.
In the first nine months (9M) of 2026, net profit fell by 17.86% to SAR 184 million from SAR 224 million in 9M-25. Total revenue for the nine months grew by 4.06% to SAR 1.23 billion.
Active members increased by 5% year-on-year (YoY) to 558,430, while deferred revenue reached a record SAR 740 million. Earnings per share (EPS) reached SAR 3.7, down from SAR 4.33 in 9M-25.
The company’s net profits declined by 21.68% YoY to SAR 112 million in the first half (H1) of 2026 from SAR 143 million.
