Riyadh — Mubasher: Mohammed Hasan Al Naqool Sons Company registered a net profit of SAR 2.12 million during the first half (H1) of 2026, representing a 2.62% decrease from the SAR 2.18 million in H1-25.

Total revenue for the half-year period reached SAR 36.29 million, down slightly from SAR 36.50 million in H1-25, according to a bourse filing.

Profitability was further impacted by a non-cash accounting loss of SAR 712,000 related to the revaluation of a profit rate hedge under IFRS 9.

Despite these factors, the core ready-mix concrete business grew 12% year-on-year (YoY).

Earnings per share (EPS) for the six-month period stood at SAR 0.37, while total shareholders' equity increased by 3.55% to SAR 62.03 million.

For the second quarter (Q2) of 2026, Al Naqool posted a net profit of SAR 1.31 million, a 2.46% decline compared to SAR 1.34 million in the prior-year quarter.

Quarterly revenue fell by 15.18% to SAR 17.41 million during April-June 2026.

The company attributed the revenue contraction to its subsidiary, Deer Real Estate, which recorded no sales from the "Deer Villa" project during the current quarter, compared to SAR 6.50 million in the same period last year.