Saudi Research and Media Group (SRMG) reported a net profit after Zakat and tax of SAR 431 million for the first nine months of 2021, up 99% from SAR 216.5 million in the same period last year.
| Item | 9m 2020 | 9m 2021 | Change |
|---|---|---|---|
| Revenues | 1,628.84 | 2,113.48 | 29.8 % |
| Gross Income | 554.12 | 830.52 | 49.9 % |
| Operating Income | 279.10 | 500.31 | 79.3 % |
| Net Income | 216.45 | 430.96 | 99.1 % |
| Average Shares | 80.00 | 80.00 | - |
| EPS (Riyals) | 2.71 | 5.39 | 99.1 % |
The company attributed the rise in profit to higher gross profit, backed by increase in revenue.
| Item | Q3 2020 | Q3 2021 | Change |
|---|---|---|---|
| Revenues | 577.09 | 813.93 | 41.0 % |
| Gross Income | 199.41 | 350.46 | 75.7 % |
| Operating Income | 111.54 | 222.91 | 99.9 % |
| Net Income | 76.48 | 204.88 | 167.9 % |
| Average Shares | 80.00 | 80.00 | - |
| EPS (Riyals) | 0.96 | 2.56 | 167.9 % |
| Item | Q2 2021 | Q3 2021 | Change |
|---|---|---|---|
| Revenues | 702.74 | 813.93 | 15.8 % |
| Gross Income | 271.66 | 350.46 | 29.0 % |
| Operating Income | 161.80 | 222.91 | 37.8 % |
| Net Income | 134.55 | 204.88 | 52.3 % |
| Average Shares | 80.00 | 80.00 | - |
| EPS (Riyals) | 1.68 | 2.56 | 52.3 % |
The company reported a net profit after Zakat and tax of SAR 204.9 million for Q3 2021, a more than two-fold year-on-year (YoY) rise, driven by higher gross profit.
When compared to previous quarter, third-quarter net profit grew by 52.2%.
Total shareholders’ equity, excluding minority interest, stood at SAR 1.958 billion by the end of 9M 2021 compared to SAR 1.483 billion in the year-ago period.
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