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.
The digital transformation led to an expansion in its client base in the current year to include new sectors, which, in turn, propelled solid first nine-months figures.
It added that the results were bolstered by the company’s efforts to enhance regional expansion and enter new projects and strategic partnerships.
During the third quarter of the year, Al Arabia saw its profits jump 15 percent to reach SR66 million, compared SR57 million it made in the same period of last year.