Leejam Sports Q1 2026 Net Profit Falls 31% to SAR 49M
Leejam Sports Company (1830) reported a net profit of SAR 49 million for Q1 2026, a 30.985% decline year-on-year, while revenue remained flat at SAR 369 million.
Key Numbers
Leejam Sports Company (1830) announced its interim financial results for the three months ended March 31, 2026, posting a net profit of SAR 49 million, down 30.985% from the same period last year. Revenue remained flat at SAR 369 million despite seasonal challenges from Ramadan and Eid Al-Fitr.
Key Financial Results
| Item | Current Quarter (SAR M) | Comparable Quarter (SAR M) | Change % |
|---|---|---|---|
| Revenue | 369 | 369 | 0% |
| Net Profit | 49 | 71 | -30.985% |
| Gross Profit | Not disclosed | Not disclosed | -9% |
| Finance Costs | 28.6 | Not disclosed | +26% |
Highlights from the Statement
- Flat Revenue: Revenue remained unchanged at SAR 369 million despite Ramadan and Eid Al-Fitr falling entirely within Q1 2026.
- Profit Decline: Net profit fell approximately 31% due to higher cost of revenues from new centers (-9% gross profit), a 26% increase in finance costs to SAR 28.6 million from higher borrowing and lease liabilities, and the absence of a SAR 8.4 million non-recurring impairment reversal that benefited Q1 2025.
- Expansion: The company opened 8 centers and closed 1 during the quarter.
- Share Buyback: Purchased 598,427 shares at an average price of SAR 81.9364 per share.
- Shareholders' Equity: Decreased 6.946% to SAR 1,152 million.
Guidance
No specific guidance was provided in the announcement.
Impact on Stock
The stock reaction was not mentioned. However, the 31% profit decline may pressure the stock in the short term, especially amid continued competitive pressures.
What This Means for Investors
The results reflect seasonal and competitive headwinds, but the expansion with 8 new centers supports future growth. Investors should monitor revenue from new centers and the company's ability to improve margins.
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