Trolley Records 54% Profit Surge in First Half
Source: Al Jarida (الجريدة) — اقتصاد
The story in brief
Trolley, the retail platform specializing in convenience stores and listed on the Premier Market of Boursa Kuwait, announced robust financial results for the first half of 2026. The company reported a 54% increase in net profit, reaching 5.2 million dinars, alongside a 25.8% rise in total revenues to 54.9 million dinars. This growth was driven by strong retail operations, the expansion of its branch network, and continued business growth in both Kuwait and Saudi Arabia. Earnings per share also increased by 54% to 18.88 fils, with a return on equity of 27.4%.
Detailed summary
Trolley, the retail platform based on the convenience store concept and listed on the Premier Market of Boursa Kuwait, announced its financial results for the first half ended June 30, 2026. The results highlight the continued strength of Trolley's retail operations, the expansion of its branch network, and sustained business growth in both Kuwait and Saudi Arabia.
For the first half of 2026, Trolley reported total revenues of 54.9 million dinars, representing a 25.8% year-on-year growth. Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) rose by 36.7% year-on-year to 10.4 million dinars. Net profit saw a significant increase of 54.0% year-on-year, reaching 5.2 million dinars. Net cash flows from operating activities grew by 20.3% year-on-year to 10.1 million dinars. Return on Equity (ROE) stood at 27.4%, up from 26.0% in the first half of 2025. Earnings per share were 18.88 fils, a 54.0% increase year-on-year.
Operationally, retail revenues in Kuwait grew by 18.4% year-on-year, while retail revenues in Saudi Arabia surged by 56.9% year-on-year. Like-for-like sales growth was 9.8% year-on-year. The company's branch network saw a net increase of 25 branches during the first half of 2026, with 8 branches in Kuwait and 17 in Saudi Arabia, bringing the total number of branches in both countries to 259 as of June 30, 2026.
Faisal Yaqoub Boudi, Chairman of Trolley, stated, “The first half 2026 results affirm the company's ability to achieve sustainable growth while maintaining operational and financial discipline. This half was a true test of our business model's resilience in a dynamic operating environment, and we will continue to uphold the highest standards of governance and transparency to enhance investor confidence and deliver sustainable value to our shareholders.”
Mohammed Yaqoub Boudi, Group CEO and Vice Chairman of Trolley, added, “This performance was achieved through the strong operational foundations we have built over the years. We are particularly pleased with the continued momentum of our operations in Saudi Arabia, which represents a fundamental pillar of our growth strategy. In the second half of the year, we will continue to focus on disciplined execution, delivering a consistent customer experience across all our branches, and seizing growth opportunities in line with our long-term strategy.”
For the second half of 2026, Trolley will prioritize three key areas: continued disciplined expansion of its branch network with a focus on high-potential locations, enhancing operational efficiency by leveraging its centralized distribution model, and further developing the customer experience across all channels, including e-commerce.
Background & context
This story sits within Kuwait's broader reform agenda and efforts to grow Technology as a pillar of non-oil GDP. The region benefits from supportive energy prices, expansionary government budgets, and rising interest from sovereign wealth funds and foreign investors.
Key numbers & facts
- The company reported a 54% increase in net profit, reaching 5.2 million dinars, alongside a 25.8% rise in total revenues to 54.9 million dinars.
- Earnings per share also increased by 54% to 18.88 fils, with a return on equity of 27.4%.
- For the first half of 2026, Trolley reported total revenues of 54.9 million dinars, representing a 25.8% year-on-year growth.
- Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) rose by 36.7% year-on-year to 10.4 million dinars.
- Net profit saw a significant increase of 54.0% year-on-year, reaching 5.2 million dinars.
Key points
- Trolley, the retail platform specializing in convenience stores and listed on the Premier Market of Boursa Kuwait, announced robust financial results for the first half of 2026.
- The company reported a 54% increase in net profit, reaching 5.2 million dinars, alongside a 25.8% rise in total revenues to 54.9 million dinars.
- This growth was driven by strong retail operations, the expansion of its branch network, and continued business growth in both Kuwait and Saudi Arabia.
- Earnings per share also increased by 54% to 18.88 fils, with a return on equity of 27.4%.
Why this matters
This matters because activity in Technology, Retail & E-commerce, Capital Markets shapes capital flows, hiring and investor sentiment across Kuwait.
Economic & market impact
Potential impact: - Tech founders, VCs and digital platforms may see knock-on funding or adoption effects. - Retailers and e-commerce platforms may see consumer-spend impact. - Listed GCC equities and indices may see direct trading reaction.
GCC angle
For the rest of the GCC, this is a signal on the pace of activity in Technology, Retail & E-commerce, Capital Markets. Capital flows and regulatory decisions in one Gulf state typically travel across borders given the similar economic structures and the coordination inside the GCC framework.
Risks & uncertainty
There is uncertainty around the read-through: projections can be moved by swings in oil prices, by US monetary policy tightening that most GCC central banks track via dollar pegs, and by regional geopolitical events. Headline numbers may also be revised when subsequent official data is published.
What happens next?
Watch for upcoming disclosures from listed names in Technology, Retail & E-commerce, official macro releases for Kuwait, and any commentary from regulators or sovereign wealth funds. Tharwa will refresh this briefing as new public information becomes available.
Sources used
This is an original Tharwa briefing based on the available source material. Read the full article from the publisher.