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SRMG’s net profit declines 14% YoY in 2023

SRMG’s net profit declines 14% YoY in 2023
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Riyadh – Mubasher: The net profit of Saudi Research and Media Group (SRMG) shrank 13.74% year-on-year (YoY) to SAR 559.62 million in 2023 from SAR 648.79 million a year earlier.

Revenues inched higher by 0.98% YoY to SAR 3.74 billion last year from SAR 3.70 billion in 2022, according to the annual financial results.

The earnings per share (EPS) declined to SAR 7 in 2023 from SAR 8.11 the year before.

During the first nine months (9M) of 2023, SRMG’s net profit rose 4.49% YoY to SAR 551.50 million from SAR 527.80 million.