Riyadh — Mubasher: Sure Global Tech Company logged 66.76% lower net profits at SAR 4.70 million in the first half (H1) of 2026, compared to SAR 14.14 million during the same period last year.
Earnings per share (EPS) fell to SAR 0.62 in H1-26 from SAR 1.87 in the prior-year period.
Total revenue for the period decreased by 20.85% to SAR 116.26 million from SAR 146.90 million.
The company attributed the decline to lower contributions from several core segments, including a 42.70% drop in managed services, a 15.70% decrease in digital services, and a 21.40% fall in the products sector as projects neared completion.
These losses were partially offset by a 60.80% surge in infrastructure and information security revenue.
Profitability was further pressured by a contraction in gross profit margins, which fell from 20.50% to 13.60%. While revenue dropped by 20.90%, the cost of revenue decreased by a lesser 14%.
Additionally, general and administrative expenses rose by 15.30%.
Last month, Faisal Mohammed Al Obaid resigned from his position as an external member of the company’s audit committee.
