Saudi Research Achieves Profitability
The Saudi Research and Media Group (SRMG) announced its transition to profitability in the second quarter of 2026, recording a net profit of 1.7 million riyals compared to a loss of 9.7 million riyals in the same period last year. This turnaround was supported by revenue growth and reduced expenses. The group's revenues increased by 13.3% year-over-year to 765.6 million riyals, driven by higher earnings in the publishing and digital content sectors, especially in sports activities, while the printing and packaging sector was negatively impacted by a decline in revenues. The company also attributed its return to profitability partly to the reversal of credit provisions for accounts receivable and cost control measures, along with expanding its presence in content creation and digital platforms. It increased its stake in "Thamaniyah" Publishing and Distribution to 75%, a company that holds the rights to broadcast Saudi football matches. The group's stock rose by 1.5%, trading at 64.9 riyals, following the signing of new contracts with governmental and private entities to strengthen its presence in the media market.
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