Asas reports net profits of 230,250 Kuwaiti dinars

The board of directors of Assas Holding Group Company met yesterday to discuss and approve the interim financial statements for the six-month period ending on June 30, 2026. The company’s chairman, Abdulmohsen Al-Mushaan, stated that the company recorded a net profit of 230,250 Kuwaiti dinars for the six months ending June 30, 2026, compared to 1.91 million dinars during the same period last year, representing a decline of 88%.

Regarding the company’s operational performance compared to the first six months of last year, Al-Mushaan noted that total operating revenues decreased by 26.4% to reach 354,320 dinars, down from 481,690 dinars during the first six months of the previous year. He stated that total assets for the first half of 2026 amounted to 23.24 million dinars, compared to 22.45 million dinars during the same period in 2025, representing an increase of 3.5%. Total shareholders’ equity for the first half of 2026 stood at approximately 18.88 million dinars, compared to 17.98 million dinars during the same period in 2025, reflecting an increase of 5%. The book value per share as of June 30, 2026, was approximately 173 fils per share, compared to 165 fils per share during the same period last year (June 30, 2025), an increase of 8 fils per share, or 5%.

Earnings per share for the six months ending June 30, 2026, amounted to approximately 2.11 fils per share, compared to 17.51 fils per share for the six months ending June 30, 2025, a decline of 15.40 fils per share, or 88%. The return on assets for the six months ending June 30, 2026, was approximately 1.0%, compared to 8.6% during the same period in 2025, a difference in return of 7.6%. Additionally, the return on equity for the six months ending June 30, 2026, was 1.2%, a difference of 10% compared to the previous year’s rate of 11.2% for the same period.