Latest news with #AlArabia
Zawya
5 days ago
- Business
- Zawya
Saudi: Al Arabia turns to $28.93mln losses in H1-25
Riyadh – Arabian Contracting Services Company (Al Arabia) shifted to net losses valued at SAR 108.45 million in the first half (H1) of 2025, against net profits of SAR 148.14 million in H1-24. Revenues stood at SAR 974.04 million in H1-25, an annual rise of 19.78% from SAR 813.13 million, according to the financial results. Loss per share hit SAR 1.97 in the first six months (6M) of 2025, compared to earnings per share (EPS) of SAR 2.69 a year earlier. Financials for Q2-25 During the second quarter (Q2) of 2025, the company also turned to net losses of SAR 156.67 million, versus a net profit amounting to SAR 47.43 million in Q2-24. The sales increased by 15.04% year-on-year (YoY) to SAR 430.32 million in April-June 2025 from SAR 374.06 million. On a quarterly basis, Al Arabia swung to net losses in Q2-25 compared to net profits of SAR 48.22 million in Q1-25, whereas the revenues dropped by 20.85% from SAR 543.72 million. All Rights Reserved - Mubasher Info © 2005 - 2025 Provided by SyndiGate Media Inc. (
Arab Times
28-05-2025
- Arab Times
Saudi Man Marries Principal, Teacher, Student, and Education Supervisor from Same School
RIYADH, May 28: An unusual marriage case from 2012 has resurfaced and gone viral on social media, reigniting public curiosity and debate across Saudi Arabia. The story involves a Saudi man in his 50s who reportedly married three women—all affiliated with the same school—including a student, a teacher, and the school's principal. Originally reported by Saudi daily Okaz, the man is also said to be married to a fourth woman who serves as an educational supervisor, allegedly at the same school. The resurfacing of the case online has once again turned the spotlight on the man's complex family structure and its implications within the educational environment. The article was published in 2012 on the Saudi Gazette and Al Arabia Despite the unconventional arrangement, reports at the time stated that the principal maintained a professional relationship with both the teacher and the student, despite all three being married to the same man. One of the wives, who works as a teacher, told Okaz she made no distinction between her co-wives and other colleagues at the school. While polygamy is legally permitted in Saudi Arabia (allowing men to marry up to four women), the overlap of roles within the same school has made this case particularly striking.
Argaam
15-05-2025
- Business
- Argaam
Al Arabia Chairman: Profit drops due to accounting standard, management reshuffle align with next phase
Mohamed Alkhereiji, the newly appointed Chairman of Arabian Contracting Services Co. (Al Arabia), said the company delivered positive financial performance in the first quarter of 2025, despite a year-on-year (YoY) decline in profit. He attributed the drop in profit to accounting standards that led the company to report high and inflated financing costs related to the Remat contract, which he said did not reflect the company's underlying profitability. Speaking to Al Arabiya TV, Alkhereiji said the company is seeing growth across multiple business segments, supported by its wide coverage in major cities across Saudi Arabia and the broader Arab region. He added that the company is continuing to expand its advertising network, particularly in digital advertising. The company's ongoing expansion is a natural progression of its strength in advertising solutions, Alkhereiji said, noting that Al Arabiya has broadened its footprint in recent years across Saudi Arabia and the region. He described recently signed contracts as a positive indicator of its strong annual client base. While overall growth in the advertising market has slowed, Alkhereiji said the company's offerings remain a top priority for advertisers, even amid tighter budgets and a more challenging market environment. Commenting on recent changes in senior management, Alkhereiji said the reshuffle was aimed at adding new expertise to the leadership team. 'These are positive steps intended to support the company's next phase, which includes potential partnerships and acquisitions in Saudi Arabia and the wider Arab region,' he said. Alkhereiji also said he would chair the company's executive committee, which will be formed after receiving the required approvals from the Capital Market Authority. According to data compiled by Argaam, Al Arabiya posted a 52% drop in net profit to SAR 48.2 million in Q1 2025, down from SAR 100.8 million in the same period a year earlier. On May 14, the board of directors accepted Alkhereiji's resignation as CEO, effective May 15, and appointed him Chairman through the end of the current board term on March 17, 2026. The company also named Mansour Al Obaikan as CEO, effective June 15, 2025.
Zawya
30-04-2025
- Business
- Zawya
Saudi: Al Arabia's net profits up 15% in 2024
Riyadh: Arabian Contracting Services Company (Al Arabia) logged 14.75% higher net profits at SAR 271.28 million as of 31 December 2024, compared to SAR 318.23 million in 2023. The revenues hiked by 31.72% year-on-year (YoY) to SAR 1.68 billion in 2024 from SAR 1.27 billion, according to the financial results. This positive revenue growth is attributed to the expansion of the advertising network in the operational sectors of the company, along with the continued digital transformation initiatives. Earnings per share (EPS) retreated to SAR 4.93 last year from SAR 5.59 in 2023.
Zawya
07-04-2025
- Business
- Zawya
Al Arabia, Multiply Group to derive global expansion in advertising sector
Mubasher: Arabian Contracting Services Company (Al Arabia) and Multiply Group's media vertical teamed up to create a joint venture (JV) to invest in the global out-of-home (OOH) advertising sector. The 90-day memorandum of understanding (MoU) will foster the two companies' global presence and anchor their expansion plans into international markets, according to a press release This collaboration will also focus on exploring joint acquisition opportunities and investments in OOH advertising, with an eye on expansion beyond the MENA region. Meanwhile, the agreement covers exploring joint investments in advertising technology and AI within the OOH sector in line with the industry's ongoing transformation. Advanced advertising platforms, including Supply-Side Platforms (SSP), are expected to boost the efficiency of reaching targeted advertising segments and enhance overall sector sustainability. Mohammad Al Khereiji, the CEO of Arabia Outdoor Advertising, stated: " Our expansion strategy is centered on identifying and capitalizing on new growth opportunities in international markets." "We believe this collaboration will strengthen our position as one of the fastest-growing companies in the OOH industry, allowing us to introduce groundbreaking solutions that harness the power of artificial intelligence and emerging technologies," Al Khereiji mentioned. Samia Bouazza, Group CEO and Managing Director of Multiply Group, commented: 'This partnership with Al Arabia is part of Multiply Group's global growth strategy. With two media powerhouses joining forces, we are establishing the foundation for advancing out-of-home advertising and AdTech.' This strategic alliance will also drive business expansion, offer innovative advertising solutions to global markets, and secure new investment avenues while fostering industry sustainability. Multiply Group became the majority shareholder in Castellano Investments after acquiring a 67.91% stake in the latter, which marked the UAE-based company's first key investment into Europe.
