Saudi Research and Marketing Group’s (SRMG) net profit after Zakat and tax jumped more than two-fold year-on-year (YoY) to SAR 246.1 million for fiscal year 2019, from SAR 84.6 million a year earlier.
| Item | 2018 | 2019 | Change |
|---|---|---|---|
| Revenues | 2,090.89 | 2,409.64 | 15.2 % |
| Gross Income | 619.65 | 725.69 | 17.1 % |
| Operating Income | 120.01 | 310.70 | 158.9 % |
| Net Income | 84.61 | 246.12 | 190.9 % |
| Average Shares | 80.00 | 80.00 | - |
| EPS (Riyals) | 1.06 | 3.08 | 190.9 % |
The company attributed the increase to higher gross profit, a revenue growth of 15.7%, as well as lower selling and marketing costs, and general and administrative expenses.
In contrast, SRMG reported higher direct costs driven by a rise in operating costs of some projects.
In Q4 2019, the company posted a net profit of SAR 11.1 million compared to a net loss of SAR 50 million in Q4 2018.
| Item | Q4 2018 | Q4 2019 | Change |
|---|---|---|---|
| Revenues | 646.01 | 616.24 | (4.6 %) |
| Gross Income | 140.73 | 150.16 | 6.7 % |
| Operating Income | (38.96) | 33.52 | 186.0 % |
| Net Income | (50.06) | 11.07 | 122.1 % |
| Average Shares | 80.00 | 80.00 | - |
| EPS (Riyals) | (0.63) | 0.14 | 122.1 % |
| Item | Q3 2019 | Q4 2019 | Change |
|---|---|---|---|
| Revenues | 706.93 | 616.24 | (12.8 %) |
| Gross Income | 201.15 | 150.16 | (25.4 %) |
| Operating Income | 96.86 | 33.52 | (65.4 %) |
| Net Income | 69.54 | 11.07 | (84.1 %) |
| Average Shares | 80.00 | 80.00 | - |
| EPS (Riyals) | 0.87 | 0.14 | (84.1 %) |
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