Trolley Net Profit Rises 38.8% to KD 7.4 Million in 9M 2026 as Expansion Continues Across Kuwait and Saudi Arabia
Trolley General Trading Company, a leading modern retail platform listed on Boursa Kuwait’s Premier Market, announced its financial results for the nine months ended 30 September 2026.
The results reflect the continued strength of Trolley’s retail operations, the expansion of its store network and the sustained growth of its business across Kuwait and Saudi Arabia.
Financial Highlights for 9M 2026
• Total revenue: KD 84.7 million, representing year-on-year growth of 24.0%
• Earnings before interest, taxes, depreciation and amortization (EBITDA): KD 15.4 million, representing year-on-year growth of 29.2%
• Net profit: KD 7.4 million, representing year-on-year growth of 38.8%
• Net cash flow from operating activities: KD 17.8 million, representing an increase of 133.4% compared with 9M 2025
• Return on equity (ROE): 27.7%, compared with 25.4% in 9M 2025
• Earnings per share: 26.77 fils, representing year-on-year growth of 38.8%
Key Operational Highlights
• Kuwait retail revenue growth: 18.3% year-on-year in 9M 2026
• Saudi Arabia retail revenue growth: 42.0% year-on-year in 9M 2026
• Like-for-like sales growth: 9.2% year-on-year in Q3 2026
• Store network: A net increase of 36 stores during 9M 2026
Strong Revenue Growth Driven by Expansion
Trolley recorded total revenue of KD 84.7 million during 9M 2026, representing year-on-year growth of 24.0%, alongside retail revenue growth across its key markets and the continued expansion of its store network.
In Kuwait, retail revenue grew by 18.3% year-on-year, while retail revenue in Saudi Arabia increased by 42.0%. Like-for-like sales also grew by 9.2% year-on-year in Q3 2026. The Company’s store network recorded a net increase of 36 stores during the first nine months of the year, reflecting continued progress in executing its expansion plans across its target markets.
Profitability Growth and Strong Cash Generation
Earnings before interest, taxes, depreciation and amortization (EBITDA) increased to KD 15.4 million, representing year-on-year growth of 29.2%, while net profit reached KD 7.4 million, increasing by 38.8% year-on-year.
Net cash flow from operating activities reached KD 17.8 million, increasing by 133.4% compared with 9M 2025 and supporting the Company’s financial flexibility and operational priorities. Earnings per share reached 26.77 fils, increasing by 38.8% year-on-year, while return on equity stood at 27.7%, compared with 25.4% in 9M 2025.
Management Commentary
Commenting on the results, Faisal Yaqoub Boodai, Chairman of Trolley, said: “We continue to develop the institutional capabilities that support Trolley’s long-term growth by strengthening governance and transparency and developing our people and systems as our business expands. Our presence in Kuwait and Saudi Arabia provides a platform to capture growth opportunities and diversify our revenue streams, while maintaining disciplined capital allocation, reinforcing investor confidence and creating sustainable value for our shareholders.”
Mohammad Yaqoub Boodai, Group Chief Executive Officer and Vice Chairman of Trolley, added: “This performance was achieved by the grace of Allah (SWT), supported by the strength of the operating foundations we have built over the years. We remain focused on disciplined execution, enhancing operational efficiency and store performance, and delivering a consistent customer experience across our network as we expand in high-potential locations. Our operating cash flow supports our ability to deliver on these priorities and capture growth opportunities in line with our long-term strategy.”
Outlook
For the remainder of 2026, Trolley will remain focused on the disciplined expansion of its store network in high-potential locations, enhancing operational efficiency and delivering a consistent customer experience across Kuwait and Saudi Arabia. These priorities support the Company’s long-term growth strategy and commitment to creating sustainable value for shareholders.