Logo of Saudi Research and Media Group
Saudi Research and Media Group (SRMG), a constituent of MSCI Saudi Arabia Small Cap Index, demonstrated excellent performance in 2021, surging nearly 150%. Accordingly, the stock is well-placed to join MSCI World Index, EFG-Hermes KSA said in a recent report.
The stock should maintain its current trading volumes until May 2022, to join MSCI World Index. The upgrade will attract $125 million cash inflows.
The upgrade could take place in early February instead of May, the report issuer added.
SRMG shares hit a life-time high today, Jan. 11, reaching SAR 237.60, gaining more than 200% since the beginning of 2021.
The stock closed 7% higher at an all-time high of SAR 233, after 500,000 shares were traded.
SRMG posted a net profit of SAR 204.9 million in Q3 2021, the highest quarterly earnings on record.
Established in 1987, SRMG transformed into a closed joint stock company in 2000. It was listed on the Saudi main market in May 2006.
The group ranks among top media houses regionally and globally. It is a leading source of news and information for more than 165 million readers, browsers and watchers on a monthly basis.
Led by Chief Executive Officer (CEO) Jomana Al-Rashid, SRMG’s digital transformation strategy is based on five key pillars.
The group has recently announced several deals and agreements, including the acquisition of Thmanyah as part of new digital-first growth strategy.
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SRMG Stock Performance |
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Annual High (SAR) |
237.60 |
Jan. 11, 2022 |
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Annual Low (SAR) |
72.70 |
Feb. 4, 2021 |
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Historical High (SAR) |
237.60 |
Jan. 11, 2022 |
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Historical Low (SAR) |
12.25 |
Aug. 24, 2015 |
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Highest Traded Volume (mln shares) |
44.16 |
Nov. 1, 2015 |
The following table shows the key financial indicators:
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Key Financial Indicators |
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EPS (last 12 months) (SAR) |
5.75 |
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P/E (Last 12 months) (x) |
40.51 |
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Book Value (SAR) |
24.48 |
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P/B ratio (x) |
9.52 |
The following is a breakthrough of the company’s events as of 2021-to-date:
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Key Events in 2021 |
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December |
SRMG subsidiary bought SAR 300 million Saudi Government sukuk |
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November |
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October |
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September |
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September |
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August |
SRMG, Taoq PR signed SAR 204 million contract to provide media consulting services |
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July |
SRMG subsidiary inked agreement to buy 51% of Thmanyah Publishing for SAR 33.3 million |
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June |
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