Saudi Research and Media Group (SRMG) reported a net profit after Zakat and tax of SAR 537 million for 2021, compared with SAR 245.6 million a year earlier.
| Item | 2020 | 2021 | Change |
|---|---|---|---|
| Revenues | 2,260.09 | 3,045.97 | 34.8 % |
| Gross Income | 748.08 | 1,082.14 | 44.7 % |
| Operating Income | 344.80 | 620.81 | 80.0 % |
| Net Income | 245.65 | 537.02 | 118.6 % |
| Average Shares | 80.00 | 80.00 | - |
| EPS (Riyals) | 3.07 | 6.71 | 118.6 % |
The profit growth was driven by a 34.8% increase in revenue, although the direct costs grew due to the operating costs of certain projects in line with the announced strategy.
The fourth-quarter net earnings reached SAR 106.04 million, three-fold higher than SAR 29.20 million in the year-earlier period.
Sequentially, Q4 2021 earnings fell 48.2% from SAR 204.88 million in the previous quarter.
| Item | Q4 2020 | Q4 2021 | Change |
|---|---|---|---|
| Revenues | 631.26 | 932.49 | 47.7 % |
| Gross Income | 193.96 | 251.62 | 29.7 % |
| Operating Income | 65.70 | 120.51 | 83.4 % |
| Net Income | 29.20 | 106.06 | 263.3 % |
| Average Shares | 80.00 | 80.00 | - |
| EPS (Riyals) | 0.36 | 1.33 | 263.3 % |
| Item | Q3 2021 | Q4 2021 | Change |
|---|---|---|---|
| Revenues | 813.93 | 932.49 | 14.6 % |
| Gross Income | 350.46 | 251.62 | (28.2 %) |
| Operating Income | 222.91 | 120.51 | (45.9 %) |
| Net Income | 204.88 | 106.06 | (48.2 %) |
| Average Shares | 80.00 | 80.00 | - |
| EPS (Riyals) | 2.56 | 1.33 | (48.2 %) |
Total shareholders’ equity, after minority interest, reached SAR 2.066 billion at the end of 2021, compared with SAR 1.527 billion a year earlier.
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