Financial Results : SRMG posts 19% profit slump in Q1 2020

SRMG posts 19% profit slump in Q1 2020

07/05/2020 Argaam Exclusive

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Saudi Research and Marketing Group (SRMG) reported a 19% profit decline year-on-year (YoY) to SAR 64.7 million in Q1 2020, driven by lower gross profit, lower revenue and decreased sales volumes in some business segments.

When compared to the previous quarter, Q1 net profit increased by more than five-fold, due to lower general and administrative expenses (G&As).



Current Quarter Comparison (M)

Compared With The
Item Q1 2019 Q1 2020 Change‬
Revenues 531.63 495.25 (6.8 %)
Gross Income 188.67 152.84 (19.0 %)
Operating Income 92.62 61.38 (33.7 %)
Net Income 79.88 64.73 (19.0 %)
Average Shares 80.00 80.00 -
EPS (Riyals) 1.00 0.81 (19.0 %)

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