“Trolley” sees net profit jump to KD 5.2 million in the first half

Trolley for General Trading, the leading convenience-store-based retail platform listed on the Kuwait Stock Exchange’s First Market, announced its financial results for the first half ended June 30, 2026. The results reflect the continued strength of Trolley’s retail operations, the expansion of its branch network, and the ongoing growth of its business in both Kuwait and the Kingdom of Saudi Arabia.

Trolley recorded total revenues of KD 54.9 million, representing a 25.8% year-on-year increase. Earnings before interest, taxes, depreciation, and amortization (EBITDA) reached KD 10.4 million, up 36.7% year-on-year. Net profit amounted to KD 5.2 million, a 54% year-on-year increase, while net cash flows from operating activities totaled KD 10.1 million, up 20.3% year-on-year. Return on equity (ROE) stood at 27.4%, compared to 26.0% in the first half of 2025, and earnings per share reached 18.88 fils, also up 54%.

Regarding operational indicators, retail revenues in Kuwait grew by 18.4% year-on-year, while retail revenues in Saudi Arabia surged by 56.9% year-on-year. Same-store sales increased by 9.8% year-on-year.

**Strong performance in a changing operating environment**

During the first half of 2026, Trolley continued to achieve balanced growth in revenues and profitability, supported by its strong position in the retail sector and the stable demand for its products, which are essential daily goods with high resilience to economic fluctuations. These results reflect the robustness of the company’s business model and its ability to maintain strong operational and financial performance, alongside the continued execution of its expansion plans in its target markets.

**Strong revenue growth driven by expansion**

Trolley recorded total revenues of KD 54.9 million in the first half of 2026, a 25.8% year-on-year increase, driven by strong retail sector performance, the continued expansion of its branch network, and growth in its key markets. In Kuwait, retail revenues grew by 18.4% year-on-year, while in Saudi Arabia, they increased by 56.9%. Same-store sales rose by 9.8% year-on-year, reflecting sustained demand across the company’s existing branch network.

The company’s branch network saw a net increase of 25 branches during the first half of 2026, with 8 new branches in Kuwait and 17 in Saudi Arabia, underscoring the continued execution of its expansion plans in target markets. Consequently, the total number of branches reached 259 as of June 30, 2026.

**Profitability growth and strong cash flows**

EBITDA rose to KD 10.4 million, a 36.7% year-on-year increase, reflecting strong operational performance and the company’s ability to leverage revenue growth and business expansion. Net profit reached KD 5.2 million, up 54% year-on-year, supported by strong operating leverage, an improved revenue mix, and disciplined cost management.

Net cash flows from operating activities amounted to KD 10.1 million, a 20.3% year-on-year increase, highlighting the company’s strength in cash generation and working capital management. Earnings per share reached 18.88 fils, up 54% year-on-year, while return on equity stood at 27.4%, compared to 26% in the first half of 2025.

Commenting on the results, Trolley’s Board Chairman, Faisal Yaqoub Boodai, said: “The first-half 2026 results confirm Trolley’s ability to achieve sustainable growth while maintaining operational and financial discipline. This half-year served as a true test of the resilience of our business model in a changing operating environment. We will continue to uphold the highest standards of governance and transparency to enhance investor confidence and deliver sustainable value to our shareholders.”

For his part, Group CEO and Vice Chairman of Trolley, Mohammed Yaqoub Boodai, stated: “This performance is the result of the strong operational foundations we have built over the past years. We are particularly pleased with the continued momentum of our business in Saudi Arabia, which represents a cornerstone of our growth strategy. During the second half of the year, we will continue to focus on disciplined execution, delivering a consistent customer experience across all our branches, and seizing growth opportunities in line with our long-term strategy.”

Supply Chain and Centralized Distribution Efficiency The company’s supply chains maintained their operational efficiency throughout the first half of the year, supported by the centralized distribution model implemented through its central warehouse, alongside continued investment in enhancing its logistics capabilities. This model contributes to supporting future expansion plans, boosting operational efficiency, and ensuring consistent product availability across the branch network.

Forward Outlook Trolley enters the second half of 2026 backed by a growing branch network, strong operating cash flows, and an expanding presence in Kuwait and Saudi Arabia. During the second half of the year, the company will focus on three key priorities: continuing disciplined expansion of its branch network with emphasis on high-potential locations, enhancing operational efficiency and leveraging the centralized distribution model, and further developing the customer experience across all of the company’s channels, including its e-commerce operations.