Financial Results : SRMG H1 2021 profit up 62% to SAR 226.1 mln

SRMG H1 2021 profit up 62% to SAR 226.1 mln

16/08/2021 Argaam Exclusive

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Saudi Research and Media Group (SRMG) reported a net profit after Zakat and tax of SAR 226.1 million for the first half of 2021, up 62% from SAR 140 million in the same period last year.

 

The company attributed the profit rise to increase in gross profit due to higher revenues.

 

Direct costs also increased due to operating costs of certain projects in line with the announced strategy.



Financials (M)

Item 6m 2020 6m 2021 Change‬
Revenues 1,051.75 1,299.55 23.6 %
Gross Income 354.71 480.06 35.3 %
Operating Income 167.57 277.40 65.5 %
Net Income 139.98 226.08 61.5 %
Average Shares 80.00 80.00 -
EPS (Riyals) 1.75 2.83 61.5 %

The group reported a net profit after Zakat and tax of SAR 134.6 million for Q2 2021, a 79% year-on-year (YoY) increase on higher gross profit.

 

When compared to previous quarter, net profit rose 47%.



Current Quarter Comparison (M)

Compared With The
Item Q2 2020 Q2 2021 Change‬
Revenues 556.50 702.74 26.3 %
Gross Income 201.87 271.66 34.6 %
Operating Income 106.18 161.80 52.4 %
Net Income 75.25 134.55 78.8 %
Average Shares 80.00 80.00 -
EPS (Riyals) 0.94 1.68 78.8 %

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