Riyadh — Mubasher: Saudi Pharmaceutical Industries and Medical Appliances Corporation (SPIMACO) announced a net profit worth SAR 100.20 million on revenue of SAR 1.30 billion during the first nine months (9M) of 2026, according to a bourse disclosure.
While international sales grew, nine-month profitability was impacted by a 96% drop in other income, representing a SAR 37 million decrease in 9M-26 compared to the previous year's exceptional gains from asset disposals.
Earnings per share (EPS) hit SAR 0.84 in 9M-26, down from SAR 1.22 in the prior year.
Total shareholders' equity was reported at SAR 1.64 billion.
During the third quarter (Q3) of 2026, the listed company SPIMACO shifted to a net loss of SAR 33.30 million for, reversing a profit from the same period last year.
Quarterly revenue fell to SAR 388.10 million, driven primarily by a 50% decline in government sector sales, which decreased by SAR 63 million.
Operating profit for the quarter reached SAR 27.10 million, while total comprehensive loss stood at SAR 40.20 million.
The company attributed the quarterly loss to a SAR 24 million non-recurring expense following the reversal of deferred tax assets after a major foreign shareholder sold its stake.
Additionally, SPIMACO recorded a SAR 14 million increase in allowance for expected credit losses due to collection challenges.
