Trolley Net Profit Rises 54.0% to KD 5.2 Million in H1 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 first half ended 30 June 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 H1 2026
• Total revenue: KD 54.9 million, representing year-on-year growth of 25.8%
• Earnings before interest, taxes, depreciation and amortization (EBITDA): KD 10.4 million, representing year-on-year growth of 36.7%
• Net profit: KD 5.2 million, representing year-on-year growth of 54.0%
• Net cash flow from operating activities: KD 10.1 million, representing year-on-year growth of 20.3%
• Return on equity (ROE): 27.4%, compared with 26.0% in H1 2025
• Earnings per share: 18.88 fils, representing year-on-year growth of 54.0%
Key Operational Highlights
• Kuwait retail revenue growth: 18.4% year-on-year
• Saudi Arabia retail revenue growth: 56.9% year-on-year
• Like-for-like sales growth: 9.8% year-on-year
• Store network: A net increase of 25 stores during H1 2026, comprising 8 stores in Kuwait and 17 in Saudi Arabia
Strong Performance in a Changing Operating Environment
During the first half of 2026, Trolley continued to deliver balanced growth across revenue and profitability, supported by the strength of its retail platform and stable demand for its products as everyday essentials that demonstrate a high degree of resilience to economic fluctuations.
The results demonstrate the resilience of the Company’s business model and its ability to maintain strong operating and financial performance while continuing to execute its expansion plans across its target markets.
Strong Revenue Growth Driven by Expansion
Trolley recorded total revenue of KD 54.9 million during H1 2026, representing year-on-year growth of 25.8%. This performance was driven by the strength of the Company’s retail operations, the continued expansion of its store network and the growth of its business across its key markets.
In Kuwait, retail revenue grew by 18.4% year-on-year, while retail revenue in Saudi Arabia increased by 56.9%. Like-for-like sales also grew by 9.8% year-on-year, reflecting sustained demand across the Company’s existing store network.
The Company’s store network recorded a net increase of 25 stores during H1 2026, comprising 8 stores in Kuwait and 17 in Saudi Arabia, reflecting continued progress in executing its expansion plans across its target markets. As a result, the Company’s total store network across both markets reached 259 stores as of 30 June 2026.
Efficient Supply Chain and Centralized Distribution
The Company’s supply chain maintained its operational efficiency throughout the first half of the year, supported by its centralized distribution model and central warehouse, alongside continued investment in strengthening its logistics capabilities.
This model supports the Company’s future expansion plans, enhances operational efficiency and helps maintain consistent product availability across its store network.
Profitability Growth and Strong Cash Generation
Earnings before interest, taxes, depreciation and amortization (EBITDA) increased to KD 10.4 million, representing year-on-year growth of 36.7%. This reflects the strength of the Company’s operating performance and its ability to benefit from revenue growth and the increasing scale of its operations.
Net profit reached KD 5.2 million, increasing by 54.0% year-on-year, supported by strong operating leverage, an improved revenue mix and disciplined cost management.
Net cash flow from operating activities reached KD 10.1 million, representing a year-on-year increase of 20.3%, reflecting the Company’s strong cash-generation capabilities and efficient working capital management.
Earnings per share reached 18.88 fils, increasing by 54.0% year-on-year, while return on equity stood at 27.4%, compared with 26.0% in H1 2025.
Management Commentary
Commenting on the results, Faisal Yaqoub Boodai, Chairman of Trolley, said: “Trolley’s H1 2026 results demonstrate our ability to deliver sustainable growth while maintaining operational and financial discipline. The period provided a meaningful test of the resilience of our business model amid a changing operating environment. We will continue to uphold the highest standards of governance and transparency, 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) through the strength of the operating foundations we have built over the years. We are particularly pleased with the continued momentum of our operations in Saudi Arabia, which represents a key pillar of our growth strategy. During the second half of the year, we will remain focused on disciplined execution, delivering a consistent customer experience across our stores and capturing growth opportunities in line with our long-term strategy.”
Outlook
Trolley enters the second half of 2026 supported by an expanding store network, strong operating cash flow and a growing presence across Kuwait and Saudi Arabia.
During the second half of the year, the Company will focus on three key priorities: continuing the disciplined expansion of its store network with a focus on high-potential locations; enhancing operational efficiency and leveraging its centralized distribution model; and further developing customer experience across all its channels, including e-commerce.