“Resources” profits jump 74.3% to 52.18 million riyals in the first quarter

The profits of the Human Resources Company in the first quarter of 2026 jumped by 74.3% to 52.18 million riyals, compared to 29.94 million riyals in the same quarter of last year.

According to the company’s statement on the website "Saudi Arabia trading"This improvement is mainly due to the following factors:

• Gross profit increased by 24.8 million riyals, a growth rate of 46%, driven mainly by increased revenues and improved profit margin in the retail sector. The corporate sector contributed 12.7 million riyals to this increase, while the individual sector contributed 12.1 million riyals. In addition, the gross profit margin in the individual sector improved to 17% in the current quarter, compared to 11% in the same quarter of last year.

• An increase in general, administrative and marketing expenses by 3.4 million riyals, mainly due to higher costs related to the workforce, in line with the Group’s strategy to enhance the use of the workforce.

• An increase in expected credit losses on trade receivables and other current assets by 0.4 million riyals compared to the same period of the previous year, in line with the expected credit loss model in accordance with International Financial Reporting Standard No. 9.

• An increase in other operating income by 2.6 million riyals, mainly driven by higher returns on term deposits and receipts from the Human Resources Development Fund.

The group’s net profit increased during the current quarter compared to the previous quarter by 13 million riyals, a growth rate of 33%. This improvement is mainly due to the following factors:

• An increase in gross profit by 11 million riyals, a growth rate of 17%, mainly driven by higher revenues and improved profit margin in the retail sector as a result of high seasonal demand associated with the month of Ramadan. The individual sector contributed 9.8 million riyals, reflecting the high employment rate, while the corporate sector contributed 1.3 million riyals.

• A decrease in general, administrative and marketing expenses by 4 million riyals, mainly due to a decrease in advertising and marketing expenses and some other expenses during the current quarter compared to the previous quarter.

• An increase in expected credit losses on trade receivables and other current assets by 2.97 million riyals compared to the previous quarter, in line with the expected credit loss model in accordance with International Financial Reporting Standard No. 9.

• An increase in other operating income by 1.2 million riyals, mainly driven by higher returns on term deposits and receipts from the Human Resources Development Fund.

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