Riyadh – Mubasher: Saudi Research and Media Group (SRMG) inked a SAR 240 million contract with a commercial company whose activity is advertising and public relations to provide media and marketing services.

The deal was signed by Taoq Public Relations Company, one of the SRMG's subsidiaries, on 30 June 2024 for three years, according to a bourse disclosure.

The listed media group expected that the agreement would be reflected on its financial statements starting from the second quarter (Q2) of 2024.

In the January-March 2024 period, SRMG registered a net profit amounting to SAR 86.87 million, an annual plunge of 28.18% from SAR 120.97 million.

Revenues declined by 7.88% to SAR 814.86 million in Q1-24 from SAR 884.64 million in Q1-23, while the earnings per share (EPS) retreated to SAR 1.09 from SAR 1.51.