Saleh Abdulaziz Al Rashed and Sons Company announced its financial results for the first quarter of 2026, reporting revenues of SAR 155.2 million and a net profit of SAR 9.2 million, compared to revenues of SAR 170.7 million and a net profit of SAR 23.2 million during the same period last year. The company’s CEO, Mr. Saud Abdulaziz Al Rashed, stated: “Despite the operational challenges that impacted the first quarter results, we continue to execute our strategy with confidence and focus. We are continuously working to enhance operational efficiency, optimize cost management, and strengthen supply chain readiness, supporting sustainable growth over the medium and long term.” He added: “We are also making tangible progress in diversifying our revenue streams, particularly through expansion in the mining sector, while further strengthening our financial position. We expect a gradual improvement in performance during the coming periods as operating conditions stabilize and our strategic initiatives continue to advance.”
He noted that the company’s performance during the period was affected by several external factors, most notably supply chain disruptions, increased material and operating costs, and the indirect impacts of geopolitical developments, all of which collectively affected operational efficiency and profit margins. Performance was also impacted by seasonal factors associated with the holy month of Ramadan and the Eid Al-Fitr holiday, which typically result in a relative slowdown in business activities and project execution during the first quarter.
On the other hand, the company recorded several positive indicators, including:- Improvement in shareholders’ equity and growth in retained earnings
- Strengthening inventory levels to support future demand
- Continued expansion in the mining sector as one of the company’s strategic growth drivers
- Ongoing diversification of revenue streams and enhancement of value-added sectors
The company reaffirmed its commitment to continuing the execution of its sustainable growth strategy, with a focus on improving operational efficiency, developing promising sectors, and reinforcing its position as a trusted partner, thereby enhancing its ability to deliver long-term value to shareholders and capitalize on the development momentum taking place across the Kingdom of Saudi Arabia.