Riyadh – Mubasher: Advanced Building Industries Company (SENAAT) registered SAR 54.18 million in net profit during the first half (H1) of 2026, an annual leap of 45.66% from the SAR 37.20 million.

The company achieved this growth despite a 7.13% decline in total revenues, which fell to SAR 2.77 billion from SAR 2.98 billion.

Earnings per share (EPS) for H1-26 rose to SAR 0.90 from SAR 0.62 a year earlier.

For the second quarter of 2026, net profit surged by 463.23% to SAR 44.37 million, compared to SAR 7.88 million in the prior-year quarter. The company attributed the quarterly performance to improved gross margins in the steel and insulation sectors, alongside higher income from associates and joint ventures.

This offset a 2.74% dip in quarterly sales, which reached SAR 1.42 billion, as lower construction revenues were partially balanced by growth in the air conditioning and steel segments.

The independent auditor issued a qualified opinion regarding inventory valuations. Management identified a net inventory shortage of SAR 21 million and total adjustments of SAR 84.70 million as of 30 June 2026, following investigations into discrepancies within the air conditioning business records.

On 30 July, the company’s unit signed a major construction contract with Hamat at a value of SAR 232.74 million excluding value-added tax.