Saudi Research and Media Group (SRMG) reported a net profit after Zakat and tax of SAR 226.1 million for the first half of 2021, up 62% from SAR 140 million in the same period last year.
The company attributed the profit rise to increase in gross profit due to higher revenues.
Direct costs also increased due to operating costs of certain projects in line with the announced strategy.
| Item | 6m 2020 | 6m 2021 | Change |
|---|---|---|---|
| Revenues | 1,051.75 | 1,299.55 | 23.6 % |
| Gross Income | 354.71 | 480.06 | 35.3 % |
| Operating Income | 167.57 | 277.40 | 65.5 % |
| Net Income | 139.98 | 226.08 | 61.5 % |
| Average Shares | 80.00 | 80.00 | - |
| EPS (Riyals) | 1.75 | 2.83 | 61.5 % |
The group reported a net profit after Zakat and tax of SAR 134.6 million for Q2 2021, a 79% year-on-year (YoY) increase on higher gross profit.
When compared to previous quarter, net profit rose 47%.
| Item | Q2 2020 | Q2 2021 | Change |
|---|---|---|---|
| Revenues | 556.50 | 702.74 | 26.3 % |
| Gross Income | 201.87 | 271.66 | 34.6 % |
| Operating Income | 106.18 | 161.80 | 52.4 % |
| Net Income | 75.25 | 134.55 | 78.8 % |
| Average Shares | 80.00 | 80.00 | - |
| EPS (Riyals) | 0.94 | 1.68 | 78.8 % |
| Item | Q1 2021 | Q2 2021 | Change |
|---|---|---|---|
| Revenues | 596.81 | 702.74 | 17.7 % |
| Gross Income | 208.41 | 271.66 | 30.4 % |
| Operating Income | 115.61 | 161.80 | 40.0 % |
| Net Income | 91.53 | 134.55 | 47.0 % |
| Average Shares | 80.00 | 80.00 | - |
| EPS (Riyals) | 1.14 | 1.68 | 47.0 % |
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