Riyadh – Mubasher: Munawla Cargo Company announced a 53.64% increase in net profit to SAR 2.39 million during the first half (H1) of 2026, compared to SAR 1.56 million in the same period last year.
The company attributed the profit growth to the reversal of expected credit loss provisions and a reduction in Zakat expenses.
Revenues for the period fell by 10.92% to SAR 24.58 million from SAR 27.59 million in H1-25. The company stated that the decline in revenue was driven by a decrease in sea freight volumes, as maritime navigation was impacted by security disturbances.
Earnings per share (EPS) climbed to SAR 0.79 in H1-26 from SAR 0.52 in the prior-year period.
Total shareholders' equity, excluding non-controlling interests, increased by 7.27% to SAR 35.26 million from SAR 32.87 million as of 30 June 2025.
Munawla Cargo noted that certain comparative figures in the income statement were reclassified, and the auditor issued an unmodified opinion on the financial results.
