Riyadh — Mubasher: Scientific & Medical Equipment House Company reported a net profit of SAR 8.60 million for the third quarter (Q3) of 2026, representing an annual rise of 11.69% from SAR 7.70 million.
The growth in bottom-line earnings occurred despite a 1% decline in quarterly revenue, which reached SAR 198.50 million compared to SAR 200.50 million a year earlier.
The company attributed the improved profitability to a SAR 3.10 million positive impact from adjusting inventory provisions for medical equipment spare parts, alongside a SAR 2.60 million reduction in selling and marketing expenses.
General and administrative costs also fell by SAR 1 million. These gains helped offset a SAR 3.50 million drop in other miscellaneous income and a SAR 2.30 million rise in Zakat and credit loss provisions.
In the first nine months (9M) of 2026, net profit remained stable at SAR 27.80 million, a slight 0.36% increase from SAR 27.70 million in 9M-25. Total revenue for the first nine months fell by 13.28% to SAR 602.50 million.
Scientific & Medical Equipment House noted that the revenue decline was primarily driven by the completion of non-recurring projects and a SAR 57.10 million one-off sale by a subsidiary in the prior year. Earnings per share (EPS) stood at SAR 0.93.
In the first half (H1) of 2026, the company registered total sales valued at SAR 404 million.
