MIS may see 15-20% growth in topline, net profit in 2025: Vice Chairman
These projections are based on current conditions and market activity, in addition to the initiatives led by the Kingdom in technology and artificial intelligence, infrastructure and data centers, he added.
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Arab News
20 minutes ago
- Arab News
Oil Update — prices dip as markets focus on US-Russia peace talks
NEW DELHI: Oil prices fell in Asian trade on Monday, extending declines of more than 4 percent last week as investors awaited the outcome of talks between the US and Russia later this week on the war in Ukraine. Brent crude futures fell 62 cents, or 0.93 percent, to $65.97 a barrel by 8:31 a.m. Saudi time, while US West Texas Intermediate crude futures were down 69 cents, or 1.08 percent, to $63.19. Expectations have risen for a potential end to sanctions that have limited the supply of Russian oil to international markets, after US President Donald Trump said on Friday that he would meet Russian President Vladimir Putin on Aug. 15 in Alaska to negotiate an end to the war in Ukraine. The talks follow increased US pressure on Russia, raising the prospect that penalties on Moscow could also be tightened if a peace deal is not reached. 'If peace talks falter and the conflict drags on, the market could quickly pivot to a bullish stance, potentially triggering a sharp rally in oil prices,' said Sugandha Sachdeva, founder of SS WealthStreet, a New Delhi-based research firm. Trump set a deadline of last Friday for Russia, which invaded Ukraine in February 2022, to agree to peace or have its oil buyers face secondary sanctions. At the same time, Washington is pressing India to reduce purchases of Russian oil. Consultancy Energy Aspects estimated Indian refiners have already purchased WTI totalling 5 million barrels for August loadings, with an incremental 5 million barrels possible depending on tender outcomes, and 5 million barrels for September loadings. WTI arbitrage to Asia remains open, and India looks set to continue absorbing US crude for now, Energy Aspects said in a weekly note. Trump's higher tariffs on imports from dozens of countries, which took effect on Thursday, are expected to weigh on economic activity as they force changes to supply chains and fuel higher inflation. Dragged down by the gloomy economic outlook, Brent fell 4.4 percent over the week ended Friday, while WTI dropped 5.1 percent. 'The near-term direction will hinge on several key events, including the August 15 meeting between the US and Russian presidents, upcoming speeches from Federal Reserve officials, and the release of the US CPI data,' said Sachdeva. Separately, data from the National Bureau of Statistics on Saturday showed China's producer prices fell more than expected in July, while consumer prices remained flat, highlighting the extent to which weak domestic demand and ongoing trade uncertainty are weighing on consumer and business sentiment.
Al Arabiya
20 minutes ago
- Al Arabiya
MBC Group reports 37.8 pct revenue growth, 41.1 pct rise in net profit in H1 2025
MBC Group, the leading media and entertainment conglomerate in the Middle East and North Africa (MENA) region, has announced its financial results for the first half of 2025, reporting revenues of $800 million (SAR 3 billion), up 37.8 percent YoY, supported by solid growth across all business segments. Net profit for the six-month period was $89.4 million (SAR 335.4 million) in H1 2025, a 41.1 percent YoY increase with net profit margin expanding 0.3 percentage points to 11.1 percent. On a quarterly basis, revenues were up 2.5 percent YoY in Q2 2025 to SAR 987.9 million, while net profit declined 38.3 percent YoY on account of higher advertising revenues in the same quarter last year during which Ramadan coincided with the first 10 days of the quarter, whereas in 2025 Ramadan fell entirely within the first quarter of the year. Additionally, heightened geopolitical volatility impacted overall market sentiment and advertiser revenue. According to the group's Chief Executive Office Mike Sneesby, the first-half results show 'strength and resilience.' In a statement, he said: 'Our first-half results demonstrate the strength and resilience of MBC GROUP's diversified business model. We delivered solid revenue growth across our core segments, supported by premium content, digital scale, and disciplined execution. Our advertising performance continues to benefit from the Group's geographically diversified footprint which has helped us to mitigate the impact of geopolitical volatility. Our Broadcast & Technical Services segment also remains a strategic revenue contributor, underpinned by a healthy pipeline and a strong track record of delivering on high-impact projects across the Kingdom. Meanwhile SHAHID continues to deliver strong top and bottom-line momentum, supported by a clear content strategy and sustained growth across SVOD and AVOD with growing platform engagement.' The BOCA segment continued to anchor Group performance in H1 2025, with revenues rising 29.6 percent year-on-year to SAR 1,737.8 million, and net profit advancing 23.7 percent to SAR 314.1 million. Growth during the period was broad-based across advertising, content distribution and large-scale media services. TV revenues rose 13.3 percent year-on-year to SAR 863.4 million, reflecting continued advertiser demand across MBC's free-to-air platforms. Broadcast & Technical Services revenues climbed 52.7 percent to SAR 740.0 million, supported by major projects with key government and institutional clients, including high profile projects that returned with expanded scope, reflecting MBC's strong execution capabilities and high quality of delivery. In Q2 2025, BOCA recorded revenues of SAR 532.4 million compared to SAR 565.7 million in 2Q 2024. The 5.9 percent year-on-year decline reflects the timing of Ramadan, which fell entirely in 1Q 2025 versus spanning into 2Q the previous year, impacting peak seasonal advertising revenues. Meanwhile Shahid, MBC Group's high-growth OTT platform, recorded a 25 percent year-on-year increase in revenues in H1 2025, reaching SAR 696.8 million compared to SAR 557.3 million in h1 2024. SVOD revenues grew 24.4 percent to SAR 540.3 million, supported by a clear content strategy and the newly implemented password-sharing policy, which limits account usage to a single IP address unless upgraded to a premium tier. AVOD revenues also delivered solid growth in H1, particularly during the Ramadan peak in Q1, while other revenues increased by 66.1 percent to SAR 11.9 million, reflecting new monetization streams. Shahid reported a net profit of SAR 2.7 million for the period, reversing a net loss of SAR 23.2 million in the first half of 2024. This profit was primarily driven by seasonal strength in Q1, and full-year breakeven is still targeted for 2027. In Q2 of 2025, SHAHID generated revenues of SAR 305.4 million, up 17.9 percent YoY. SVOD continued to lead growth, while AVOD performance moderated due to the absence of Ramadan advertising in the current quarter versus the prior year. The platform reported a narrow net loss of SAR 10.6 million in Q2, down from SAR 16.7 million in Q2 2024, supported by operational efficiencies and a stronger subscription base. The Media & Entertainment Initiatives (M&E) segment continued to deliver strong growth in H1 2025, with revenues almost doubling year-on-year to SAR 597.2 million, compared to SAR 301.8 million in the same period last year, while net profit nearly tripled to SAR 18.6 million, up from SAR 6.9 million in H1 2024. The segment's performance reflects the continued delivery of major initiatives and growing management-fee income from commercially structured programming. In Q2 2025, M&E revenues reached SAR 150.1 million, up 7.9 percent year-on-year, while net profit for the quarter increased by 39.8 percent to SAR 6.6 million, with a one percentage point expansion in net profit margin to 4.4 percent. Content remained a key performance driver across both Shahid and linear platforms in H1 2025. Ommi, the Saudi-Turkish adaptation drama following the success of Khareef Al Qalb, captivated audiences across platforms, securing the number one spot on MBC and driving strong viewer engagement. Similarly, Aser, a compelling pan-Arab drama thriller, continued to build momentum, leading its time slot on MBC1 and emerging as a standout success across both broadcast and streaming platforms, with growing regional appeal week after week. Share' Al A'sha, a social drama series set in KSA which aired during Ramadan, also solidified its status as one of the most celebrated Saudi productions of the year. The series earned nine major awards at the Al Dana Drama Awards 2025, including Best Story and Best Picture. In the comedy genre, Yawmiyyat Rajol Anis stood out as a Ramadan highlight, delivering strong viewership in Saudi Arabia and earning Best Comedy Series at the 2025 Al Dana Drama Awards, further reinforcing MBC's leadership in Arabic comedic storytelling. As of the end of Q2 2025, MBC's content pipeline consisted of over 150 projects, with more than 90 percent of them slated for production in Saudi Arabia, reflecting MBC Group's deepening commitment to supporting the Kingdom's creative economy through local production and talent development. Commenting on the MBC's outlook, Sneesby said, 'As we continue to expand our footprint across the region, our strategic focus remains unchanged: invest in scalable, high-impact content, grow our digital platforms, and lead the evolution of Arab media. We have best-in-class capabilities across production, broadcasting, and streaming, and we will continue to apply commercial discipline in evaluating opportunities, pursuing only those that align with our long-term strategic objectives and return thresholds.'
Argaam
20 minutes ago
- Argaam
Cenomi Centers continues to review asset portfolio: CEO
Arabian Centres Co. (Cenomi Centers) continues to review its asset portfolio under its non-core asset disposal program, without disclosing any new transactions at present, CEO Alison Rehill-Erguven told Argaam. The total fair value gains from investment properties reached SAR 325.1 million in H1 2025, including SAR 280.6 million in Q2 2025, supported by construction progress at the Jawharat Riyadh and Jawharat Jeddah projects, Rehill-Erguven noted, adding that these gains reflect the quality of the company's business portfolio. Commenting on Q2 2025 performance, she attributed the profit growth to the substantial fair value gains, in addition to the operating income contribution from selling a non-core land plot in Al-Kharj for SAR 9.9 million. She also cited the continued cost-control measures, and the decline in operating and insurance expenses, which led to a 7.7% decline in cost of revenue. Other operating income increased due to Al-Kharj land sale. Despite a slight decline in revenue following the handover of Dhahran Mall, net profit capitalized on stronger margins and the projects' disciplined execution. Financing costs fell to SAR 150.6 million in Q2 2025 despite higher borrowing, due to writing back the time-value provisions of approximately SAR 19 million during the quarter and SAR 26.1 million in H1 2025, as part of the company's efforts to prudently manage financing costs while investing in long-term growth. The company commenced implementing the exclusive partnership agreement signed in May with Unibail-Rodamco-Westfield (URW) for a 10-year term, renewable, under which the 'Westfield' brand will be carried by three flagship centers in Saudi Arabia: Jawharat Riyadh, Jawharat Jeddah, and Al-Nakheel Dammam. This partnership will enhance customer experience and broaden the tenant base in line with Saudi Vision 2030 objectives. Regarding Q3 2025 performance, Rehill-Erguven stated that the company remains confident in the strength of its portfolio and strategy. While the company does not provide quarterly guidance, its focus remains on delivering continued operational excellence and advancing its key projects towards launch.
