Riyadh – Mubasher: MSGA Investment Company registered a 52.74% decline in net profit for the first half (H1) of 2026, with earnings falling to SAR 10.60 million from SAR 22.43 million in the same period last year.

The company attributed the decline to a significant shift in its operational structure and profit margins, according to a bourse filing.

Total revenue for the six-month period ended on 30 June 2026 reached SAR 55.31 million, representing a 4.09% decrease from SAR 57.67 million a year earlier.

The company noted that residential unit sales, which accounted for 100% of revenue in the prior-year period, dropped to 26% of the current mix due to lower inventory.

Conversely, new contracting and development contracts grew from 0% to 74% of total revenue.

The shift toward contracting and development projects, which carry lower profit margins than the previous sales-only model, pressured the bottom line.

Earnings per share (EPS) decreased to SAR 0.11 in H1-26 from SAR 0.22 in H1-25.

Despite the lower profit, total shareholders' equity increased by 19.03% to reach SAR 145.73 million in H1-26.

Moreover, the company’s external auditor issued an unmodified opinion on the financial statements.