Riyadh — Mubasher: Balsm Alofoq Medical Company posted a net profit of SAR 804,385 in the first half (H1) of 2026, representing a 40.13% decrease from the SAR 1.34 million in H1-25.
The earnings per share (EPS) fell to SAR 0.32 in H1-26 from SAR 0.54 a year earlier, according to the income statements.
The decline in profitability occurred despite a 17.03% increase in total revenues, which hit SAR 11.42 million in H1-26 from SAR 9.76 million in H1-25.
The company attributed the higher turnover to its expansion strategy and increased market share. Total shareholders' equity grew by 4.75% to reach SAR 31.70 million.
Balsm Alofoq stated that the lower bottom line was primarily due to rising operating and capital expenses linked to the launch of the Al Rass branch and a new dermatology department in Buraidah.
Additionally, the company incurred preparatory costs for a SAR 71.81 million primary healthcare contract with the Royal Commission for Jubail and Yanbu, which commenced operations on 1 July 2026.
The company expects these strategic investments to enhance financial performance and support sustainable growth in the near future.
