The Saudi Research and Media Group announced that net profits rose in the first quarter of this year by 23% to 112.5 million riyals, compared to 91.5 million riyals in the same quarter of 2021.
On a quarterly basis, the company’s profits increased in the first quarter by 6%, compared to 106.1 million riyals in the fourth quarter of 2021.
She said The company said in a statement on the Saudi Tadawul.Today, Wednesday, the increase in net profit during the current period is due to the growth in gross profit, mainly as a result of an increase in revenues by 31.8%.
The direct costs of the current quarter increased compared to the same quarter of the previous year, mainly as a result of operating costs of some projects in line with the announced strategy.
Revenues increased by 31.8% in the first quarter to 786.3 million riyals, compared to 596.8 million riyals in the same quarter of the previous year.
