Riyadh – Mubasher: Nayifat Finance Company registered SAR 36.90 million in net profit during the second quarter (Q2) of 2026, an annual leap of 136.97% from SAR 15.57 million.
The company attributed the profit growth to reduced operating expenses and enhanced collection efforts, which resulted in a net reversal of expected credit loss provisions.
Quarterly revenue declined by 11.15% to SAR 73.50 million, compared to SAR 82.73 million a year earlier.
Management stated the decrease was due to a strategic shift toward high-credit-quality customers and a reduction in the financing portfolio following early settlements.
Operating profit for the quarter rose by 107.09% to SAR 42.19 million.
In the first half (H1) of 2026, the company’s net profits surged by 53.58% year-on-year (YoY) to SAR 60.07 million from SAR 39.12 million. Half-year revenue fell by 8.34% to SAR 155.73 million.
As of 30 June 2026, the total shareholders' equity, excluding non-controlling interests, reached SAR 1.30 billion, down 9.51% from SAR 1.44 billion. Earnings per share (EPS) improved to SAR 0.52 from SAR 0.33.
In Q1-26, the group’s net profits declined by 1.57% YoY to SAR 23.17 million from SAR 23.54 million.
