Riyadh - Mubasher: Obeikan Glass Company generated net profits valued at SAR 23.62 million for the second quarter (Q2) of 2026, representing an 85.82% hike from SAR 12.71 million.

The company attributed the growth primarily to the consolidation of its subsidiary, Obeikan AGC Glass, which included a SAR 24.84 million gain from a liability settlement following an adjustment to an exemption mechanism.

Quarterly revenue rose by 14.47% to SAR 102.03 million, compared to SAR 89.14 million in the prior-year period.

Despite the higher net profit, the company recorded an operating loss of SAR 2.92 million for the quarter, down from an operating profit of SAR 12.41 million a year earlier. This was due to increased selling, distribution, and general expenses, alongside losses from an aluminum casting subsidiary.

For the first half (H1) of 2026, net profit reached SAR 25.92 million, up 37.53% from SAR 18.85 million in H1-25. Total revenue for the six-month period climbed by 12.80% to SAR 196.46 million.

Earnings per share (EPS) hit SAR 0.81, compared to SAR 0.59 in the previous year, while total shareholders' equity increased by 7.44% to SAR 596.48 million.

On 7 June, the company’s shareholders approved delegating the board members to distribute interim dividends on a biannual or quarterly basis for 2026.