SRMG 9M 2022 net profit up 23% to SAR 527.8 mln; Q3 at SAR 246.5 mln

07/11/2022 Argaam Exclusive

Saudi Research and Media Group (SRMG) reported a net profit after Zakat and tax of SAR 527.8 million for the first nine months of 2022, an increase of 23% from SAR 430.9 million in a year earlier period.



Financials (M)

Item 9m 2021 9m 2022 Change‬
Revenues 2,113.48 2,696.31 27.6 %
Gross Income 830.52 987.51 18.9 %
Operating Income 500.31 588.62 17.7 %
Net Income 430.96 527.77 22.5 %
Average Shares 80.00 80.00 -
EPS (Riyals) 5.39 6.60 22.5 %

This profit growth was fueled by stronger gross profit and a revenue increase of 27.6% year-on-year (YoY), despite higher direct costs due to recording operating costs of certain projects in line with the announced strategy.



Current Quarter Comparison (M)

Compared With The
Item Q3 2021 Q3 2022 Change‬
Revenues 813.93 1,002.72 23.2 %
Gross Income 350.46 397.07 13.3 %
Operating Income 222.91 269.79 21.0 %
Net Income 204.88 246.53 20.3 %
Average Shares 80.00 80.00 -
EPS (Riyals) 2.56 3.08 20.3 %

Q3 2022 net profit rose 20% YoY to SAR 246.5 million, from SAR 204.88 million, driven by higher gross profit, a revenue increase of 23.2% YoY, despite higher direct costs.

 

On a sequential basis, net profit jumped 46%, from SAR 168.72 million.

 

Total shareholders’ equity, excluding minority interest, reached SAR 2.517 billion as of Sept. 30, 2022, compared to SAR 1.958 billion in a prior-year period.

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Share Price

Saudi Research and Media Group
285.00
(0.20) (0.07 %)

Saudi Research and Media Group (SRMG)

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Financial Ratios
Current
Market Cap (M Riyal) 22,800.00
Enterprise Value (EV) (M) 22,960.40
Shares Outstanding ((M)) 80.00
EPS ( Riyal) (TTM) 4.06
Book Value (BV) ( Riyal) 41.73
Par Value ( Riyal) 10.00
Adjusted P/E (Last12) More than 100
P/E (TTM) More than 100
Price/book 6.83
Return on Average Assets (%) (TTM) 5.5
Return on Average Equity (%) (TTM) 10.0
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