Riyadh – Mubasher: Saudi Research and Media Group (SRMG) logged net profits worth SAR 316.74 million in the first nine months (9M) of 2024, which marked a 42.57% plunge from SAR 551.54 million in 9M-23.
The revenue also decreased year-on-year (YoY) by 13.65% to SAR 2.51 billion during the January-September 2024 period compared to SAR 2.91 billion, according to the income statements.
The earnings per share (EPS) declined to SAR 3.96 in 9M-24 from SAR 6.89 in 9M-23.
Financial Results for Q3
During the third quarter (Q3) of 2024, the research and media group SRMG posted a 40.36% plummet in net profit to SAR 148.46 million from SAR 248.96 million in Q3-23.
The revenue also fell by 19.32% to SAR 850.89 million in July-September 2024 from SAR 1.05 billion in the same period a year earlier.
On a quarterly basis, the net profits in Q3-24 were 82.36% higher than SAR 81.41 million in Q2-24 while the revenue edged up 0.04% from SAR 850.53 million.
It is worth highlighting that in the first half (H1) of 2024, SRMG unveiled lower net profits at SAR 168.28 million as well as revenue worth SAR 1.66 billion.
