RIYADH, 11 October 2006 — The Saudi Research and Marketing Group posted a 40 percent increase in net profits in the first nine months of the year 2006.
The group achieved SR193.2 ($51.5 million) net profits in the period ending Sept. 30 against SR138.1 million ($36.8 million) over the same period last year, according to a company statement on Monday.
This growth led to a 40 percent increase in the share dividend to reach SR2.41 ($0.64). Net profits for the third quarter reached SR41.6 million ($11 million) compared to SR53.8 million ($14.3 million) over the same period last year. Operating profits rose by 16 percent in the first nine months of the year to SR370.8 million ($98.8 million) compared to SR319.2 million ($85.2 million) in the same period last year.
The statement attributed the growth in profits to the overall performance of the group’s subsidiaries apart from the expansion of Al-Madinah Printing and Publishing Company’s operations and the rise in the revenue of Al-Khaleejiah Advertising.
