“Research and Media” signs a contract worth 252 million riyals per year

Saudi Research and Media Group – “Research and Media” announced that “Touq Public Relations”, one of its subsidiaries, has signed a contract with a commercial company engaged in advertising and public relations to provide operational services for multiple platforms media.

The company added in a statement to “Saudi Tadawul” that the contract is worth 252 million riyals per year and for a period of 3 years.

The company said the financial impact of the contract appears in the financial statements starting in the third quarter of 2021.

He said this reflects the degree of trust enjoyed by the group and its subsidiaries with their experience, reach and presence locally and globally.

Saudi Research and Media announced an increase in its profits in the second quarter of questyear of 79% to 134.6 million riyals, from 75.3 million riyals recorded in the same period last year.

Its profits also increased by 61.5% in the first half of the year to 226 million riyals from the 140 million riyals recorded in the first half of 2020.

The company has attributed the reason for the increase in net profit for the quarter in course, compared to the same quarter of the previous year, mainly due to the increase in gross profit due to an increase in revenues of 26.3%, noting that direct costs for the quarter in price increased compared to the same quarter of the previous year mainly due to the operating costs of some projects in in line with the strategy announced, according to the company’s announcement today, Monday, on the Saudi market site, “Tadawul”.

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