Saudi Research and Media Group (SRMG) reported a net profit of SAR 86.9 million in Q1 2024, compared to SAR 121 million a year earlier.
| Item | Q1 2023 | Q1 2024 | Change |
|---|---|---|---|
| Revenues | 884.64 | 814.86 | (7.9 %) |
| Gross Income | 279.18 | 229.89 | (17.7 %) |
| Operating Income | 143.33 | 123.39 | (13.9 %) |
| Net Income | 120.97 | 86.87 | (28.2 %) |
| Average Shares | 80.00 | 80.00 | - |
| EPS (Riyals) | 1.51 | 1.09 | (28.2 %) |
| Item | Q4 2023 | Q1 2024 | Change |
|---|---|---|---|
| Revenues | 832.08 | 814.86 | (2.1 %) |
| Gross Income | 163.79 | 229.89 | 40.4 % |
| Operating Income | (7.19) | 123.39 | 1816.4 % |
| Net Income | 8.08 | 86.87 | 975.6 % |
| Average Shares | 80.00 | 80.00 | - |
| EPS (Riyals) | 0.10 | 1.09 | 975.6 % |
The topline declined by 7.89% year-on-year (YoY), due to lower revenue from the public relations and advertising segment, as well as the printing and packaging segment.
Gross profit also decreased, primarily due to lower revenue from the abovementioned segments, along with higher finance costs.
SRMG’s net profit skyrocketed from SAR 8.08 million in Q4 2023, mainly due to a 40.36% leap in gross profit and lack of goodwill impairment losses associated to the printing and packaging segment during the fourth quarter of 2023.
Total shareholders’ equity, after minority interest, stood at SAR 3.10 billion by March 31, 2024, compared to SAR 2.83 billion a year earlier.
Argaam Investment Company has updated the Privacy Policy of its services and digital platforms. Know more about our Privacy Policy here.
Argaam uses cookies to personalize content, to provide social media features and analyze traffic, that we might also share with third parties. You consent to our cookies if you use this website
Comments {{getCommentCount()}}
Be the first to comment
رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}
{{comment.DisplayName}}
{{comment.ElapsedTime}}