On 2026-08-05 08:06:05 (Saudi Time), Saudi Research and Media Group announced its Interim financial results for the six months ended on June 30, 2026.

Year-on-Year Performance Drivers

For the six-month period ending 30 June 2026, Sales/Revenue rose 15.74% YoY to SAR 1,535.22 million (from SAR 1,326.43 million), driven primarily by higher revenue from the Publishing, Visual, and Digital Content segment, boosted by broadcasting rights for the Custodian of the Two Holy Mosques Cup, the Roshn Saudi League, and the Saudi First Division League, while the Printing and Packaging segment saw a decline due to adverse market changes reducing overall business volume. Net profit attributable to shareholders increased 64.086% YoY to SAR 34.77 million (from SAR 21.19 million), mainly due to the reversal of expected credit loss allowances on trade receivables and the recognition of income from the conversion of loans into equity amounting to SAR 31.35 million related to the Printing and Packaging segment. Despite the revenue and net profit growth, gross profit declined 9.907% YoY to SAR 275.62 million and operational profit fell 32.262% YoY to SAR 39.64 million, reflecting higher cost pressures relative to revenue growth.

Quarter-on-Quarter Performance Drivers

QoQ revenue edged down 0.524% to SAR 765.59 million from SAR 769.63 million in the previous quarter, primarily due to lower revenue from the Public Relations and Advertising segment, partially offset by higher contributions from the Publishing, Visual and Digital Content segment and the Printing and Packaging segment. Net profit attributable to shareholders fell sharply by 94.859% QoQ to SAR 1.7 million from SAR 33.07 million, mainly driven by lower gross profit and higher finance costs. Additionally, the Group's increased ownership interest in Thmanyah Publishing and Distribution Company to 75% resulted in a greater share of Thmanyah's financial results being consolidated, further weighing on net profit.

Other Items

The external auditor issued an unmodified conclusion with no additional comments, qualifications, or emphasis of matter paragraphs noted. Total shareholders' equity (after excluding non-controlling interest) stood at SAR 2,780.96 million as at the end of the current quarter, compared to SAR 3,292.66 million for the same quarter of the previous year, a decrease of 15.54%, and compared to SAR 2,903.79 million at the end of the previous quarter of the current year, a decrease of 4.23%. The retained earnings balance as of 30 June 2026 was SAR 2,263.46 million. Total comprehensive income attributable to shareholders of the issuer for the current quarter was SAR 17.37 million, compared to SAR 40.69 million for the same quarter of last year, a decrease of 57.31%, and compared to a loss of SAR 30.50 million in the previous quarter. For the six-month period, total comprehensive income attributable to shareholders was a loss of SAR 13.13 million, compared to income of SAR 78.66 million in the same period of the prior year. Earnings per share for the current period stood at SAR 0.43, compared to SAR 0.26 for the same period of the prior year. Certain prior period figures have been reclassified to conform with the presentation of the current period. No material risks, going concern uncertainties, or debt covenant breaches were disclosed in this announcement.

Original announcement:

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