Lazurde suffers SAR 5m losses in Q2-26; total revenues hit SAR 1.9bn in H1-26

The net losses of Lazurde Company for Jewelry plunged by 87.20% to SAR 1.60 million in the first half (H1) of 2026 from SAR 12.50 million in H1-25.

The improvement in the bottom line came despite a one-time non-cash unrealized loss of SAR 11.2M related to the fair value valuation of gold inventory.

Total revenue for the half-year period rose to SAR 1.92 billion from SAR 1.38 billion in the previous year. The company attributed this 39.14% growth to improved operational performance and rising global gold prices. Operating profit for the first half climbed by 61.82% to SAR 39 million.

For the second quarter (Q2) of 2026, the company recorded a net loss of SAR 5.20 million, a significant reduction from the SAR 25.80 million loss reported in Q2-25.

Quarterly revenue reached SAR 887.10 million, representing a 34.49% increase year-on-year (YoY).

The retail sector showed resilience in Egypt as revenues grew by 7.40% and Saudi Arabian like-for-like store sales increased by 6%.

E-commerce sales now represent 14% of total retail sales, following 9% growth in the digital segment. Total shareholders' equity stood at SAR 241 million as of 30 June 2026.

In Q1-26, the group’s net profits shrank by 72.93% YoY to SAR 3.60 million from SAR 13.30 million.