MBC Group's profits leap 2,327% in 2024
The revenues hiked by 145.11% to SAR 4.19 billion last year from SAR 1.71 billion in 2023, according to the financial indicators.
Earnings per share (EPS) hit SAR 1.20 at the end of December 2024, versus SAR 0.17 a year earlier.
Waleed bin Ibrahim AlIbrahim, Chairman of MBC Group, said: 'By investing in content that resonates with local audiences, advancing digital innovation, and cultivating a strong creative ecosystem, we are not only shaping the future of storytelling but also driving economic and cultural progress across the region.'
'As we move forward, our focus remains on building a legacy that delivers lasting value for our audiences, partners, and stakeholders, while contributing to the transformative goals of Saudi Arabia's Vision 2030,' he added.
Sam Barnett, CEO of MBC Group, commented: "By maintaining a disciplined approach to costs while expanding its revenue streams, the group is well-positioned to shape the future of entertainment in MENA, while delivering long-term value for its audiences, advertisers, and shareholders."
In the first nine months (9M) of 2024, the net profits increased by 378% YoY to SAR 250.51 million.
Source: Mubasher
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Zawya
32 minutes ago
- Zawya
Ministry of Sport launches EOI and RFQ phase for acquisition of Al Najma and Al Okhdood Sports Clubs
The Ministry of Sport, in collaboration with the National Center for Privatization & PPP (NCP), announced today, Wednesday, 20 August 2025, the launch of the Expression of Interest (EOI) and Request for Qualification (RFQ) phase for the acquisition of Al Najma and Al Okhdood Sports Clubs. This initiative forms part of the continued implementation of the Sports Clubs Investment and Privatization Project, aimed at increasing private sector participation in the sports sector in alignment with the goals of Saudi Vision 2030. This follows the announcement made in July, which opened the door for expressions of interest from investors seeking to acquire any of the Saudi sports clubs. The Ministry of Sport and NCP call on all interested local and international investors to visit the NCP website at to review further information and details regarding the RFQ. The deadline for submitting the SOQ is Wednesday 17 September 2025, at 6:00 PM (KSA time). These steps reflect the Ministry of Sport's commitment to achieving the goals of the Sports Clubs Investment and Privatization Project. They aim to enhance private sector participation in the sports industry and advance the development of sports clubs by improving financial and administrative sustainability, ultimately contributing to the growth and prosperity of Saudi sports.
Zawya
33 minutes ago
- Zawya
Carlsberg Asia launches Digital Acceleration Program to drive future growth across Asia
New regional strategy deepens digital platform partnerships, and fuels innovation HONG KONG SAR - Media OutReach Newswire - 20 August 2025 - A new chapter is underway at Carlsberg Asia, as the brand outlines a future-facing digital roadmap anchored in strategic collaborations with three of Asia's major O2O and quick commerce platforms – Meituan, Grab and Delivery Hero. The initiative comes at a pivotal time, as digital behaviours continue to transform how people discover, shop, and engage with brands. The Digital Acceleration Program aims to future-proof its commercial model, infuse AI and data into core operations, and redefine beer experiences for the next generation of consumers across the eight key Asia markets, and further expanding beyond. Building on a strong year of digital sales growth in 2024, underpinned by strategic MoU signings and multiple brand activations, the Program is designed to empower and integrate with digital partners while cementing Carlsberg's position as a leader in the beer industry. In the coming years, Carlsberg Asia aims to drive deeper use of data and insight from digital platforms to unlock beer consumption occasions in order to understand each target market's consumer behaviours, to broaden regional wide partnerships and enhance cross-markets synergy, and to accelerate online-to-offline commerce and further support brand's local penetration. "We see our digital partners not just as platforms, but as strategic growth engines," says Arindam Varanasi, Vice President, Commercial Asia, Carlsberg. "This is the boldest partnership at Carlsberg Asia to date. The success of our digital sales on e-commerce platforms last year is a testament to the power of collaboration and innovation. By joining forces with Meituan, Grab, and Delivery Hero, we are eager to deepen these partnerships to unlock mutual growth opportunities." "As we move forward with our Digital Acceleration Program, we are looking forward to continuously making our Carlsberg brands portfolio more relevant, to build a digitally connected ecosystem that enhances every touchpoint of the consumer journey from discovery to delivery, also to elevate consumer experiences through convenience and relevance while reinforcing our commitment to celebrating responsibly." says João Abecasis, Executive Vice President, Asia, Carlsberg. Immersive brand experiences to strengthen strategic digital partnerships To supercharge the collaborative alliances, Carlsberg Asia hosted a three-day strategic forum at its global headquarter in Copenhagen, welcoming executives from Meituan, Grab and Delivery Hero. The immersive experience at the Home of Carlsberg offered partners a behind-the-scenes look at the brand's heritage, brewing philosophy, and long-term growth vision. At the forum, digital partners engaged in closed-door top-to-top discussions with Carlsberg's senior executive team to align on growth strategies and new approaches to distribution across O2O channels. To expand digital growth opportunities from Asia to global, the forum focused on unlocking insight-driven, scalable commercial value through the utilisation of each partners' platform technology, data, and consumer insights to co-creating modern, consumer-centric experiences. From click to cheers: Taking beer moments to exciting new heights In partnership with Meituan, a new chapter is brewing in China, with long-term plans to co-create the next generation beer experience across cross-border markets. At the core of the partnership is to expand on series of initiatives that integrate with Meituan's ecosystem of advanced technology and consumer behavioural data that will deliver real-time, occasion-based beer experiences, such as 30-minute quick commerce delivery to personalised promotions and curated product selections. Meanwhile in Southeast Asia markets, Carlsberg and Grab strengthen the partnership with a focus on online to offline product distribution, always-on responsible drinking initiatives and driving brand awareness through direct consumer engagement with shared passion points such as football matches and music festivals via Grab's platform. The partnership aims to elevate on-trade experiences with partner restaurants by introducing dine-in reservation promotions and bundled deals. Carlsberg and Delivery Hero are teaming up to fully integrate Carlsberg's premium beer offering into Delivery Hero's dynamic delivery ecosystem. Through foodpanda and its pandamart grocery stores in Asia, this partnership bridges on-trade and off-trade channels to create a unified home-dining experience, complete with a chilled beer delivered to consumers' doorsteps. The shared vision is to make Carlsberg's product effortlessly accessible and create memorable occasions that celebrate the joy of food and drink. Looking ahead, the brands are committed to expanding this innovative partnership globally, bringing an elevated beer experience to consumers around the world. These immersive engagements underscore Carlsberg Asia's ambition to redefine its digital partnerships through innovation, collaboration, and a deep focus on the consumer. Stay tuned for future announcements about exciting campaigns and activations under each partnership. For more information, please visit: Hashtag: #CarlsbergAsia The issuer is solely responsible for the content of this announcement. About Carlsberg Asia Established in 1847 by brewer J.C. Jacobsen, the Carlsberg Group is one of the leading brewery groups in the world, with an attractive portfolio of beer and other beverage brands. With over 37.000 employees, and with a presence in more than 125 markets, the Group has a purpose of brewing for a better today and tomorrow Doing business responsibly and sustainably supports that purpose – and drives the efforts to deliver value for shareholders and society. Carlsberg Asia is a dynamic and diverse region comprising of 8 operating markets: Cambodia, China, Hong Kong S.A.R., Laos, Malaysia, Myanmar, Singapore and Vietnam. Altogether we have 34 breweries and some 12,000 employees spreading across the Asian markets. The Asia Regional Office is based in Hong Kong. Carlsberg Asia
Arabian Post
7 hours ago
- Arabian Post
US Leads Greenfield FDI in Saudi Arabia for 2025
The United States has emerged as the dominant force in greenfield foreign direct investment in Saudi Arabia for the first half of 2025. Accounting for 61 projects with a combined value of $2.7 billion, American investments represented nearly a third of the total project count and capital investment during the period, according to a report by Emirates NBD. Saudi Arabia continues to be an attractive destination for global investors, benefiting from its Vision 2030 reform programme, which aims to diversify the economy away from oil dependency. This strategy has driven significant foreign capital into various sectors, from real estate to technology and infrastructure. The U. S. has capitalised on this with robust participation, reaffirming its growing stake in the Kingdom's economic transformation. A key driver behind the U. S. investment surge is the Kingdom's large-scale infrastructure projects and its push for technological advancement. As part of the Vision 2030 plan, Saudi Arabia has been encouraging the development of smart cities, green technologies, and renewable energy solutions. Many American companies have seized opportunities in these sectors, contributing to the sharp rise in greenfield FDI from the U. S. ADVERTISEMENT The substantial $2.7 billion investment from the U. S. follows a pattern of rising interest from American businesses looking to establish a foothold in the Middle East's largest economy. Companies from various industries, including construction, energy, technology, and healthcare, have been particularly active, attracted by the government's incentives and the Kingdom's ambition to position itself as a global business hub. Egypt ranks second in terms of capital investment into Saudi Arabia, contributing $1.81 billion through 11 projects. These investments are primarily focused on the real estate sector, with major developments pushing the capital inflow. The surge in real estate development aligns with Saudi Arabia's plans to expand its residential and commercial infrastructure to accommodate its growing population and the influx of foreign workers. China has also played a significant role, contributing $858.3 million in greenfield FDI across 11 projects. Despite a smaller share of the total, China's investments are noteworthy, with Chinese firms increasingly involved in sectors such as construction, renewable energy, and technology. This continued engagement highlights China's ongoing strategic interest in the Middle East, especially as it seeks to expand its Belt and Road Initiative projects in the region. France's contributions have been slightly more modest, with $771.7 million invested across six projects. French businesses have targeted sectors such as luxury goods, healthcare, and technology, with an eye on capitalising on Saudi Arabia's growing consumer market. France's involvement further signals the diverse range of global powers interested in the Kingdom's long-term economic growth. The UAE, a close regional partner to Saudi Arabia, also made notable contributions. UAE investors were involved in 25 projects worth $205.3 million. While this is a smaller share compared to other countries, the UAE's investments are still substantial, reflecting its desire to strengthen its economic presence in the region. These ventures span multiple sectors, including construction, hospitality, and financial services, areas where UAE-based firms have established themselves as leaders. Saudi Arabia's economic diversification strategy appears to be paying off, with global investors increasingly attracted to the Kingdom's business-friendly environment and long-term growth prospects. Greenfield FDI, which typically involves setting up new businesses or expanding existing operations, is seen as a strong indicator of foreign confidence in the local economy. The surge in investment projects is a testament to the effectiveness of Vision 2030 policies in reshaping Saudi Arabia's economic landscape. One of the factors behind Saudi Arabia's successful draw of greenfield FDI is the significant improvement in its business climate. Efforts to streamline regulations, enhance legal frameworks, and incentivise foreign investments have played a crucial role. Furthermore, the development of special economic zones and the introduction of regulatory reforms have made it easier for international firms to establish operations.
