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First Mills net profit rises 28% in second quarter on feed growth
The Saudi milling company reported Q2 revenue of SAR 301.3 million, up 27% year on year, as its feed segment drove both growth and improved margins.
First Milling Co., also known as First Mills, said its net profit reached SAR 66 million, or $17.6 million, in the second quarter of 2026, up 28% from the same period a year earlier, with the feed business providing the main lift, according to World Grain.
World Grain also reported that second-quarter revenue rose 27% year on year to SAR 301.3 million. For the first half of 2026, First Mills increased revenue 22% to SAR 634 million and grew net profit 11% to SAR 146 million.
The company attributed the quarter's performance to product range optimization, resilient demand in its core businesses, and continued expansion in the feed segment. World Grain said management also pointed to new capacity coming online, downstream integration, and operational efficiency initiatives.
First Mills described maintaining uninterrupted operations despite regional geopolitical developments, citing proactive supply chain management, disciplined procurement, and coordination with suppliers and logistics partners. World Grain added that during the first half, it commissioned a new 600 tonnes per day mill at Qassim and that its first animal feed exports began, expanding its export platform.