Salam International Investment Limited Q.P.S.C. (SIIS) Earnings Call Transcript

Hello, and welcome to Salam International Investment Earnings Call. Please note that this call is being recorded. [Operator Instructions] Now I would like to hand the call over to Phibion. You may now begin.

Thank you, [ Abhi ]. Good afternoon to you all. I would like to welcome you all to the Salam International Investments Earnings Conference Call for Q2 and 1H 2026. On the call today from Salam International Investments Management team, we have Abdul Salam Abu Issa, the Chief Executive Officer; Hekmat Al Younis, the Chief Financial Officer; Suleiman Al-Khateeb, Executive Director, Corporate Development and also the IR Officer; and we have Abdul Rahman Pasha, the Corporate Finance Manager. And as usual, they will first give us an overview of the Q2 and 1H performance, and we have a Q&A immediately after. Let me now turn over the call to Mr. Abdul -- Abdul Issa, the Chief Executive Officer, to begin. Over to you, sir. You may go ahead.

Thank you. Good afternoon, everybody. Despite the current geopolitical challenges, we are pleased to announce our positive results for the first 6 months of 2026. Salam has recorded revenue of QAR 867 million compared to QAR 838 million from last year, which represents a 3% growth. Gross profit has improved better than from QAR 236 million for the first 6 months last year to QAR 252 million. And overall, this has resulted in a 10% growth in our net profit from QAR 49 million last year for the same period to QAR 54 million. Overall, the situation has -- caused a lot of challenges, but with everyone's -- we tried very hard to turn things around and control our results, whether it was improving the margins or taking necessary cutting cost steps. In addition, it's also worth mentioning that we have also reduced our borrowing by 6% and our finance costs has also been reduced by 14% from QAR 56 million last year to QAR 49 million this year. The situation currently remains, obviously, as everyone follows the news, but we are confident that we are on track. Thank you.

Thank you. We will now begin the question-and-answer session. [Operator Instructions] This concludes the question-and-answer session and our call today. Thank you all for joining. You may now disconnect.