Riyadh – Mubasher: Saudi Research and Marketing Group on Thursday posted a net profit of SAR 21.8 million ($5.8 million) for Q1-16, a rise of 10.66% from SAR 19.7 million ($5.25 million) the corresponding period the year before.

Profits from the sale of a building in the UK were the main reason behind the year-on-year gains, the company said in a filing to the Saudi Stock Exchange (Tadawul).

Gross profit fell to SAR 66.1 million in Q1-16 from SAR 99.7 million in Q1-15 following a 16% drop in revenues.