Saudi Research and Marketing Group (SRMG) reported a 19% profit decline year-on-year (YoY) to SAR 64.7 million in Q1 2020, driven by lower gross profit, lower revenue and decreased sales volumes in some business segments.
When compared to the previous quarter, Q1 net profit increased by more than five-fold, due to lower general and administrative expenses (G&As).
| Item | Q1 2019 | Q1 2020 | Change |
|---|---|---|---|
| Revenues | 531.63 | 495.25 | (6.8 %) |
| Gross Income | 188.67 | 152.84 | (19.0 %) |
| Operating Income | 92.62 | 61.38 | (33.7 %) |
| Net Income | 79.88 | 64.73 | (19.0 %) |
| Average Shares | 80.00 | 80.00 | - |
| EPS (Riyals) | 1.00 | 0.81 | (19.0 %) |
| Item | Q4 2019 | Q1 2020 | Change |
|---|---|---|---|
| Revenues | 616.24 | 495.25 | (19.6 %) |
| Gross Income | 150.16 | 152.84 | 1.8 % |
| Operating Income | 33.52 | 61.38 | 83.1 % |
| Net Income | 11.07 | 64.73 | 484.6 % |
| Average Shares | 80.00 | 80.00 | - |
| EPS (Riyals) | 0.14 | 0.81 | 484.6 % |
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