DUBAI: Saudi Research and Media Group (SRMG), owner of Arab News, posted a 62 percent rise in profit for the first half of 2021, the company said in a Tadawul filing.
The company, which owns more than 30 major media outlets including Asharq Al-Awsat, recorded a net profit of SR226.1 million ($60.3 million) in the first six months of the year, up from SR140 million in the same period in 2020.
The group earlier announced a transformation strategy, with a focus on expanding its platforms, and pursuing international partnerships and strategic investments.
The Saudi group already has partnerships with Bloomberg and The Independent.
The strategy also includes boosting the company’s digital capabilities, as well as strengthening its cable and satellite reach.
“The group will continuously look to leverage its data and technology capabilities to develop new products and services, enhance its monetization capabilities and diversify its revenue stream,” SRMG said in a statement in July.
