Riyadh — Mubasher: Leen Alkhair Trading Company reported a net loss of SAR 17.98 million for the first six months (6M) of 2026, reversing a net profit of SAR 2.28 million recorded in the year-ago period.
The company attributed the downturn to a 15.26% decline in revenue to SAR 114.17 million in the first half (H1) of 2026 from SAR 134.74 million in H1-25, according to a bourse disclosure.
Leen Alkhair noted that the drop in sales was primarily driven by lower volumes from major clients and key channels, particularly government customers.
While revenue decreased, the cost of sales only fell by 0.90%, causing the company to swing from a gross profit of SAR 12.49 million in H1-25 to a gross loss of SAR 6.95 million in H1-26.
Financial results were further pressured by general and administrative expenses rising to SAR 6.28 million, alongside higher expected credit loss provisions of SAR 1.70 million and finance costs of SAR 1.48 million.
The loss per share for the period stood at SAR 2.20, compared to earnings per share (EPS) of SAR 0.28 in H1-25.
Leen Alkhair added that total equity decreased by 35.665% to SAR 84.84 million in H1-26.
The company also disclosed accumulated losses of SAR 25.61 million, representing 31% of its capital.
