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Saudi Research profit leaps in Q2, H1

Saudi Research profit leaps in Q2, H1
Revenues levelled up 30.3%, reaching SAR 514.8 million during Q2-18
SRMG
4210
-2.41% 137.60 -3.40

Riyadh – Mubasher: The Saudi Research and Marketing Group on Sunday posted a 1,176.1% surge year-on-year in its net profits for the second quarter of 2018.

The company’s profits amounted to SAR 85.5 million during the period between April and June, compared to SAR 6.7 million in Q2-17, according to a bourse filing.

Quarter-on-quarter, profits leaped 630.8% in Q2-18, from SAR 11.7 million.

The firm attributed the second-quarter profit increase to a 30.3% growth in revenues, which led to a 483.2% surge in operating profits.

Revenues levelled up 30.3%, reaching SAR 514.8 million during Q2-18, compared to SAR 395.1 million in the same period a year earlier.

Saudi Research and Marketing Group’s net profits soared 292.3% to SAR 97.3 million in the first six months of 2018, from SAR 24.8 million during H1-17.

The Tadawul-listed company’s revenues went up 12.4% to SAR 885.1 million during H1-18, compared to SAR 787.8 million in the same six month a year before.

The stock decreased 2.35% to finish Sunday’s activities at SAR 99.80.