RIYADH, 27 May 2006 — The Saudi Research & Publishing Company (SRMG) continued its excellent financial performance during the first four months this year realizing considerable growth rates compared to the same period last year, an SRMG statement said.
Prince Faisal Bin Salman, chairman of SRMG, made this disclosure while chairing a meeting of the company’s board of directors at the company’s headquarters here on Monday.
The board members were briefed on the company’s positive financials, which are expected to reflect on its performance and profits.
The current growth rates would lead to gaining profits exceeding the targets of the present budget, the company statement said, adding that the board meeting reviewed the company’s financial results for the first four months of this year.
The meeting also discussed the group’s new investment projects aimed at diversification of its investments and strengthening its financial position, the statement said. “The board discussed all topics on the agenda and took appropriate decisions,” it added.
It was SRMG board’s first meeting after the company’s initial public offering (IPO) and the purchase of 5.62 percent each of SRMG by the state-owned General Organization for Social Insurance and the Pensions Fund.
The new board of directors, which will continue for three years, include: Prince Faisal Bin Salman (chairman), Muhammad Ali Hafiz, Suleiman Saad Al-Humaid, Muhammad ibn Abdullah Al-Kharashi, Abdullah Salim Bahamdan, Muhammad Hussein Al-Amoudi, Abdullah Saleh Kamil, Muhammad Omar Al-Eisai, Abdul Rahman ibn Ibrahim Al-Ruwaitie, Dr. Azzam ibn Muhammad Al-Dakhil and Suleiman Ibrahim Al-Hodaithy (members).
