Riyadh - Mubasher: WSM for Information Technology Company reported a 73.91% plunge in net profit for the first six months that ended on 30 June 2026, reaching SAR 810,000 compared to SAR 3.11 million during the same period last year.
The company attributed the decline primarily to a drop in gross profit and a significant reduction in revenue from the public sector.
Total revenue for the period fell by 27.56% to SAR 20.40 million from SAR 28.16 million in the first half (H1) of 2025. The company stated that government sector revenue plunged 54.80% due to a decrease in the volume of government projects and variations in the levels of business executed.
Despite the overall decline, private sector revenue surged by 147.9% to SAR 9.38 million from SAR 3.78 million, as the firm continued to diversify its income streams.
Earnings per share (EPS) for the period stood at SAR 0.28, down from SAR 1.09 a year earlier.
Total shareholders' equity increased by 2.56% to SAR 49.90 million. Managed services and outsourcing accounted for 46% of total revenue, while professional services contributed 30%.
Geographically, the Riyadh region remained the company's primary market, generating 82.80% of total revenue.
