Riyadh — Mubasher: Leaf Global Environmental Services Company posted 80.29% lower net profits at SAR 1.20 million in the first half (H1) of 2026, compared to SAR 6.08 million in the same period last year.
The company attributed the profit compression to a significant drop in revenue and pricing adjustments made to maintain market share amid rising competition.
Total revenue for the period fell by 33.19% to SAR 15.77 million from SAR 23.61 million a year earlier.
Management cited the completion of several active projects and a nationwide slowdown in mangrove-related environmental works as primary drivers for the lower turnover.
Earnings per share (EPS) hit SAR 0.24, down from SAR 1.22 in the prior-year period.
Despite the decline in profitability, total shareholders' equity grew by 26.89% to reach SAR 47.04 million from SAR 37.07 million.
The company also noted that its financial statements were reviewed by RSM Allied Accountants Professional Services following a change in the external auditor.
The auditor’s report was issued with an unmodified opinion.
