Qomel Posts Quarterly Net Profit of 2.4 Million Riyals
Qomel reported quarterly net profit of 2.4 million riyals and sales of 35.3 million. Government-linked sales fell while private-sector sales rose, according to Reuters.
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what happened
Qomel posted a quarterly net profit of 2.4 million riyals, with sales reaching 35.3 million riyals, Reuters reported. Sales to government and semi-government entities dropped by 6.93 million riyals over the quarter.
Meanwhile, sales to the private sector increased to 2.11 million riyals.
why it matters
The report covers a small company, so its direct impact on broader markets is limited. For shareholders, the shift from government contracts toward private clients is the key point to watch in coming quarters.
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sources
- Qomel Co Qtrly Profit 2.4 Mln Riyals — Reuters, 8 November 2026 at 05:24 UTC
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