Riyadh — Mubasher: Axelerated Solutions for Information and Communication Technology Company posted a net profit of SAR 8.79 million in the first half of 2026, representing a 73.10% decrease from the SAR 32.67 million recorded in H1-25.
The company attributed the decline in profitability to lower gross margins resulting from price fluctuations in raw materials for technical equipment and a reduction in the volume of executed business, according to a bourse filing.
Revenues reached SAR 182.68 million in H1-26, signaling a 32.14% contraction compared to SAR 269.20 million in H1-25.
Axelerated Solutions stated that the revenue decline was primarily driven by lower income from managed, operational, and professional services, alongside a drop in software and licensing revenue caused by delays in project approvals.
Earnings per share (EPS) also fell to SAR 0.31 in January-June 2026 from SAR 1.28 in the corresponding period.
Total shareholders' equity, excluding non-controlling interests, stood at SAR 282.53 million in H1-26, reflecting a 2.76% decrease from SAR 274.94 million a year earlier.
Meanwhile, Axelerated Solutions noted that the independent auditor’s report was issued with an unmodified opinion.
