The Clap
The Saudi Research and Media Group (SRMG) (4210) recorded the highest quarterly profit in Q3 2022 since its listing on the Saudi Tadawul in 2006.
The Deets
SRMG’s net profit increased by 20.3% YoY during Q3 due to quarterly revenues exceeding SAR 1 billion for the first time.
SRMG
SRMG, a parent company to “Asharq” and “Economy of the East with Bloomberg”, is the largest media conglomerate in the Middle East.
Its portfolio also includes dozens of print, digital and visual media including “Independent Arabia“, “Asharq Al-Awsat“, and “Argaam“.
Now What
SRMG plans to expand its existing portfolio and digital offering by converting print publications to digital platforms and expanding into other platforms as well.
The group is also looking to focus on investing in emerging media companies and cooperating with major international media companies.
