BUPA ARABIA-

Bupa Arabia for Cooperative Ins. saw its net income drop 29.3% y-o-y to SAR 286.3 mn in 2Q 2025, as a 40.8% y-o-y decline in ins. services due higher inflation and seasonal claims overshadowed a 54.7% surge in gross written premiums and a 12% reduction in operating expenses, it said in a Tadawul disclosure yesterday. Meanwhile, revenue expanded 3.4% y-o-y to SAR 4.7 bn over the same period, driven by an increase in ins. contracts.

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On a 1H basis, the ins. provider’s bottom line slipped 12.8% to SAR 666.5 mn, while its ins. revenues expanded 2.1% y-o-y to SAR 9.1 bn.

CENOMI RETAIL-

Cenomi Retail fell into the red in 2Q 2025, recording a SAR 85.3 mn net loss, compared to SAR 84.1 mn in net income during the same quarter last year, it said in an earnings release (pdf). The loss was driven by an 80.8% drop in operating income and a 279.7% rise in other operating expenses, including FX losses from EUR appreciation and a tax settlement with Zatca.

Revenue declined 7% y-o-y to SAR 1.1 bn due to the seasonal sales boost from Ramadan falling entirely in 1Q, rather than between quarters last year.

On a 1H basis, Cenomi Retail reported a SAR 83.2 mn net loss, widening from SAR 67.6 mn a year earlier, while revenue rose 2% y-o-y to SAR 2.5 bn.

ICYMI- Al Futtaim Group’s planned acquisition of a 49.95% stake in Cenomi Retail cleared a regulatory checkpoint earlier this week, after receiving the greenlight from the General Authority for Competition. The two retail giants had inked a share purchase agreement for SAR 2.5 bn (USD 667 mn) last month. In addition to buying the stake from the founding Alhokair family shareholders, Al-Futtaim will provide a SAR 1.3 bn loan to shore up Cenomi’s finances and fund its recovery.

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