Balancing expansion with profitability remains central to Leejam Sports, operator of Fitness Time and Saudi ticker 1830. More members support revenue, while newer centres weigh on margins before reaching operating maturity.
Reported first-half 2026 net profit was about SAR 112 million, down approximately 22%. Second-quarter net profit was SAR 63 million, compared with SAR 49 million in the first quarter.
Membership growth versus margins
Second-quarter revenue rose 9% to SAR 411 million, and active members increased 8% to 522,820. First-half gross margin declined to 33.2% from 35.5%.
The next operating test
Investors will watch new-centre maturity, growth at existing sites and cost discipline. Improving margins alongside membership growth would offer a stronger signal of expansion quality than centre openings alone.
Follow our Saudi market coverage for Leejam’s results and declared dividends, and check the date and assumptions behind any analyst recommendation.
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