Riyadh - Mubasher: Al Majed for Oud Company activated a SAR 200 million Shariah-compliant bank facility agreement with Al Rajhi Banking and Investment Corporation on 16 October.

The funds aim to support the company’s operational activities and reinforce its financial position in line with strategic growth and expansion plans, according to a bourse filing.

Meanwhile, the 12-month renewable financing is backed by a Murabaha agreement, a facility deal, and a promissory note.

In the first half (H1) of 2025, Al Majed for Oud logged 21.52% higher net profits valued at SAR 145.23 million, compared to SAR 119.50 million in H1-24.

Revenues jumped by 19.65% year-on-year (YoY) to SAR 618.83 million as of 30 June 2025 from SAR 517.18 million.

Earnings per share (EPS) hit SAR 5.81 in H1-25 when compared with SAR 4.78 in the same period a year ago.