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RIYADH: Outdoor advertising provider Arabian Contracting Services Co., known as Al Arabia, has more than doubled its profits during the first quarter.
Profits of the Riyadh-based firm, partly owned by media giant MBC group, soared to SR64.9 million ($17.3 million) in the first quarter from SR29.6 million during the same period last year, a bourse filing revealed.
Economic recovery, along with a continued digitization push in the Kingdom, led to a 93 percent increase in revenues year-on-year to SR287 million.
Al Arabia said that digital transformation led to an expansion in its client base in the current year to include new sectors, which in turn propelled solid first-quarter figures.