Saudi Research and Marketing Group (SRMG) reported a net profit after Zakat and tax of SAR 245.6 million in 2020, compared to a profit of SAR 246.1 million in 2019.
The company attributed the slight decrease in net profits to higher Zakat expense and the impairment of the intangible assets.
On the other hand, the company’s gross profit increased 7% year-on-year (YoY) in 2020.
| Item | 2019 | 2020 | Change |
|---|---|---|---|
| Revenues | 2,409.64 | 2,260.09 | (6.2 %) |
| Gross Income | 725.69 | 748.08 | 3.1 % |
| Operating Income | 310.70 | 344.80 | 11.0 % |
| Net Income | 246.12 | 245.65 | (0.2 %) |
| Average Shares | 80.00 | 80.00 | - |
| EPS (Riyals) | 3.08 | 3.07 | (0.2 %) |
The firm posted a net profit after Zakat and tax of SAR 29.2 million in Q4 2020, compared to a profit of SAR 11.07 million in the year-earlier period.
| Item | Q4 2019 | Q4 2020 | Change |
|---|---|---|---|
| Revenues | 616.24 | 631.26 | 2.4 % |
| Gross Income | 150.16 | 193.96 | 29.2 % |
| Operating Income | 33.52 | 65.70 | 96.0 % |
| Net Income | 11.07 | 29.20 | 163.7 % |
| Average Shares | 80.00 | 80.00 | - |
| EPS (Riyals) | 0.14 | 0.36 | 163.7 % |
| Item | Q3 2020 | Q4 2020 | Change |
|---|---|---|---|
| Revenues | 577.09 | 631.26 | 9.4 % |
| Gross Income | 199.41 | 193.96 | (2.7 %) |
| Operating Income | 111.54 | 65.70 | (41.1 %) |
| Net Income | 76.48 | 29.20 | (61.8 %) |
| Average Shares | 80.00 | 80.00 | - |
| EPS (Riyals) | 0.96 | 0.36 | (61.8 %) |
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