MBC-backed Al Arabia’s profit jumps 43% on stronger client base

Tue, 2022-11-08 19:53

RIYADH: Outdoor advertising provider Arabian Contracting Services Co., known as Al Arabia, has posted a 43 percent surge in its profit during the first nine months of 2022.

The Riyadh-based firm, partly owned by media giant MBC group, saw its net profit rising to SR194 million ($52 million) from SR136 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 64 percent increase in revenues year-on-year to SR809 million.

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