Riyadh – Mubasher: Saudi Research and Marketing Group recorded a net profit of SAR 64.7 million during the first quarter (Q1) of 2020, showing a 19% year-on-year (YoY) decline compared with SAR 79.9 million in Q1-19.

Revenues decreased by 6.85% and amounted to SAR 495.2 million in the three-month period, as shown by the company’s interim financial results.

In addition, the printing and publishing sector achieved lower sales, while direct costs increased due to the rising operational expenses of some projects, the group explained in a market disclosure on Thursday.