Riyadh — Mubasher: Horizon Food Company reported a 45.77% decline in net profit for the second quarter (Q2) of 2026, with earnings falling to SAR 1.68 million from SAR 3.10 million in Q2-25, according to a bourse filing.

The company attributed the profit compression to higher administrative expenses following the appointment of a new leadership team, increased raw material costs, and higher depreciation and amortization charges.

The decline in the bottom line occurred despite a 22.96% increase in quarterly revenue, which reached SAR 22.30 million during April-June 2026 compared to SAR 18.14 a year earlier.

The company stated that sales growth was driven by an expanded customer base and stronger demand for its products.

However, operating profit for Q2-26 fell by 41.94% to SAR 1.81 million.

For the first half (H1) of 2026, net profits of Horizon Food reached SAR 5.42 million, representing a 16.93% decrease from the SAR 6.52 million recorded in H1-25.

Half-year sales grew by 17.90% to SAR 43.58 million when compared to the H1-25 results.

Earnings per share (EPS) for the six-month period stood at SAR 0.68, down from SAR 0.82 in the prior-year period.

Moreover, total shareholders' equity increased by 4.62% to SAR 122.77 million.