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SRMG’s unit inks SAR 32m deal to provide media services

SRMG’s unit inks SAR 32m deal to provide media services
SRMG’s unit inks SAR 32m deal to provide media services
SRMG
4210
-2.41% 137.60 -3.40

Riyadh – Mubasher: Taoq International Public Relations Co, the 100% subsidiary of The Saudi Research and Marketing Group (SRMG), has signed a 10-year agreement at a value of SAR 31.5 million ($8.40 million).

Under the deal, SRMG’s unit will provide advertising and public relations services, according to a statement to the Saudi Stock Exchange (Tadawul) on Thursday.

The contract’s financial impact is forecast to appear in SRMG's financial results of the first quarter of 2019.

The parent company last reported a 46.67% year-on-year rise in net profits during the third quarter of 2018, registering SAR 37.4 million, compared to SAR 25.5 million.

SRMG’s stock decreased 1.04% to close Thursday’s trading session at SAR 95.