Riyadh – Mubasher: Saudi Darb Investment Company logged net profits amounting to SAR 2.19 million for the second quarter (Q2) of 2026, marking a 39.61% increase from SAR 1.57 million in the same period last year.
The profit growth occurred despite a 12.89% decline in quarterly revenue, which fell to SAR 4.01 million from SAR 4.60 million.
The company attributed the revenue drop to a 13% decrease in occupancy rates. However, the bottom line was bolstered by the reversal of a credit loss provision amounting to SAR 402,636 when compared to a provision expense of SAR 848,356 recorded in the prior-year quarter.
Professional fee expenses also decreased by 54% during the period.
In the first half (H1) of 2026, the net profits grew by 9.16% to SAR 3.16 million from SAR 2.90 million a year earlier.
Half-year revenues totaled SAR 8.01 million, representing a 12.62% year-on-year (YoY) decrease. Earnings per share for the period rose to SAR 0.014 from SAR 0.013.
The independent auditor’s report included an emphasis of matter regarding a SAR 26.14 million provision related to an asset exchange dispute with Modern Al Satea General Contracting Company. Total shareholders' equity stood at SAR 232.99 million as of 30 June 2026.
