Riyadh - Mubasher: United Mining Industries Company reported a net profit of SAR 9.11 million for the six-month period that ended on 30 June 2026, representing an 8.51% decline from SAR 9.96 million a year earlier.
The decrease in profitability occurred despite a 19.20% increase in total revenues, which rose to SAR 118.33 million in the first half (H1) of 2026 from SAR 99.27 million.
The company attributed the revenue growth to higher export sales and increased demand for gypsum products and cement boards.
However, net profit was pressured by a rise in the cost of revenues that outpaced sales growth, alongside higher selling, marketing, and financing expenses.
Earnings per share (EPS) for the period fell to SAR 0.65, compared to SAR 0.71 in the previous year.
Total shareholders' equity increased by 9.48% to reach SAR 208.39 million.
Separately, the company noted that Knauf International GmbH acquired a 63.20% controlling stake, totaling 8.85 million shares, on 12 May 2026.
Knauf subsequently announced its intention on 22 June to launch a mandatory offer to acquire the remaining 100% of the company's shares, a process that remains subject to regulatory approvals.
