SRMG 2020 net profit marginally down to SAR 245.6 mln

29/03/2021 Argaam Exclusive

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Saudi Research and Marketing Group (SRMG) reported a net profit after Zakat and tax of SAR 245.6 million in 2020, compared to a profit of SAR 246.1 million in 2019.

The company attributed the slight decrease in net profits to higher Zakat expense and the impairment of the intangible assets.

On the other hand, the company’s gross profit increased 7% year-on-year (YoY) in 2020.

Financials (M)

Item	2019	2020	Change‬
Revenues	2,409.64	2,260.09	(6.2 %)
Gross Income	725.69	748.08	3.1 %
Operating Income	310.70	344.80	11.0 %
Net Income	246.12	245.65	(0.2 %)
Average Shares	80.00	80.00	-
EPS (Riyals)	3.08	3.07	(0.2 %)

The firm posted a net profit after Zakat and tax of SAR 29.2 million in Q4 2020, compared to a profit of SAR 11.07 million in the year-earlier period.

Current Quarter Comparison (M)

Compared With The

Item	Q4 2019	Q4 2020	Change‬
Revenues	616.24	631.26	2.4 %
Gross Income	150.16	193.96	29.2 %
Operating Income	33.52	65.70	96.0 %
Net Income	11.07	29.20	163.7 %
Average Shares	80.00	80.00	-
EPS (Riyals)	0.14	0.36	163.7 %

Item	Q3 2020	Q4 2020	Change‬
Revenues	577.09	631.26	9.4 %
Gross Income	199.41	193.96	(2.7 %)
Operating Income	111.54	65.70	(41.1 %)
Net Income	76.48	29.20	(61.8 %)
Average Shares	80.00	80.00	-
EPS (Riyals)	0.96	0.36	(61.8 %)

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