Abdullah Altimyat,CEOofSaudi Manpower Solutions Co.’s (SMASCO)
Saudi Manpower Solutions Co.’s (SMASCO) current strategy is based on expansion across all segments and improving the balance of its workforce portfolio to boost profit margins, said CEO Abdullah Altimyat. 
In an interview with Argaam, he indicated that the company is continuing its balanced growth as planned, noting that it aims to develop services and specializations in target segments.
SMASCO is a leading player in the HR sector, including the domestic labor sector, which the company attaches great importance to in terms of products and numbers. The company has always been ahead of the mandatory requirements set by the Ministry of Human Resources, and is currently the leader in the domestic labor sector, which eliminates any constraints it may face in expanding its business, Altimyat stated.
He added that the number of workers in the business sector has grown in a balanced manner across several segments targeted by the company.
Waad Home Services Marketing Co. is a limited liability company established as a joint venture between SMASCO and global home services provider Urban Company. It aims to provide exceptional home services solutions to the Saudi market. Launched in early 2025, Waad requires investment and time to establish itself in the local market, said the CEO.
He added that Waad incurred SAR 7.5 million investment losses by the end of June 2025, and are expected to reach SAR 14.5 million by the end of 2025, as planned.
The advance payments to suppliers are a normal occurrence in the HR sector, where companies pay advances to suppliers, including external recruitment agencies. HR companies continuously monitor the status of these agencies and suppliers and take financial provisions according to accounting requirements, according to the top executive.
He pointed out that the Saudi economy is constantly improving in most sectors, expecting this to continue moving forward, which will certainly require human cadres for expansion, as is the case in the home services sector.
According to Argaam’s data, SMASCO reported a decline in net profit to SAR 70 million in H1 2025, compared to SAR 74 million a year earlier. Q2 2025 net profit stood at SAR 29.5 million.
Abdullah Altimyat,CEOofSaudi Manpower Solutions Co.’s (SMASCO)
Saudi Manpower Solutions Co.’s (SMASCO) current strategy is based on expansion across all segments and improving the balance of its workforce portfolio to boost profit margins, said CEO Abdullah Altimyat.
In an interview with Argaam, he indicated that the company is continuing its balanced growth as planned, noting that it aims to develop services and specializations in target segments.
SMASCO is a leading player in the HR sector, including the domestic labor sector, which the company attaches great importance to in terms of products and numbers. The company has always been ahead of the mandatory requirements set by the Ministry of Human Resources, and is currently the leader in the domestic labor sector, which eliminates any constraints it may face in expanding its business, Altimyat stated.
He added that the number of workers in the business sector has grown in a balanced manner across several segments targeted by the company.
Waad Home Services Marketing Co. is a limited liability company established as a joint venture between SMASCO and global home services provider Urban Company. It aims to provide exceptional home services solutions to the Saudi market. Launched in early 2025, Waad requires investment and time to establish itself in the local market, said the CEO.
He added that Waad incurred SAR 7.5 million investment losses by the end of June 2025, and are expected to reach SAR 14.5 million by the end of 2025, as planned.
The advance payments to suppliers are a normal occurrence in the HR sector, where companies pay advances to suppliers, including external recruitment agencies. HR companies continuously monitor the status of these agencies and suppliers and take financial provisions according to accounting requirements, according to the top executive.
He pointed out that the Saudi economy is constantly improving in most sectors, expecting this to continue moving forward, which will certainly require human cadres for expansion, as is the case in the home services sector.
According to Argaam’s data, SMASCO reported a decline in net profit to SAR 70 million in H1 2025, compared to SAR 74 million a year earlier. Q2 2025 net profit stood at SAR 29.5 million.
