Financial Results : SRMG 2021 profit rises to SAR 537 mln; Q4 at SAR 106 mln

SRMG 2021 profit rises to SAR 537 mln; Q4 at SAR 106 mln

30/03/2022 Argaam Exclusive

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Saudi Research and Media Group (SRMG) reported a net profit after Zakat and tax of SAR 537 million for 2021, compared with SAR 245.6 million a year earlier.



Financials (M)

Item 2020 2021 Change‬
Revenues 2,260.09 3,045.97 34.8 %
Gross Income 748.08 1,082.14 44.7 %
Operating Income 344.80 620.81 80.0 %
Net Income 245.65 537.02 118.6 %
Average Shares 80.00 80.00 -
EPS (Riyals) 3.07 6.71 118.6 %

The profit growth was driven by a 34.8% increase in revenue, although the direct costs grew due to the operating costs of certain projects in line with the announced strategy.

 

The fourth-quarter net earnings reached SAR 106.04 million, three-fold higher than SAR 29.20 million in the year-earlier period.

 

Sequentially, Q4 2021 earnings fell 48.2% from SAR 204.88 million in the previous quarter.



Current Quarter Comparison (M)

Compared With The
Item Q4 2020 Q4 2021 Change‬
Revenues 631.26 932.49 47.7 %
Gross Income 193.96 251.62 29.7 %
Operating Income 65.70 120.51 83.4 %
Net Income 29.20 106.06 263.3 %
Average Shares 80.00 80.00 -
EPS (Riyals) 0.36 1.33 263.3 %

Total shareholders’ equity, after minority interest, reached SAR 2.066 billion at the end of 2021, compared with SAR 1.527 billion a year earlier.

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