The group said in a statement to the stock exchange Saudi Arabia The sold shares represent 4.9 percent of the Arab Company’s capital, “and the share sale process was implemented through negotiated deals in accordance with the relevant procedures.”
It is noteworthy that the MBC Group had recorded a growth in net income by about five times, reaching 237.8 million riyals in the first half of the fiscal year 2024. This growth is attributed to the strong performance in revenues and the significant improvement in profit margins, especially for the “Shahid” platform, which achieved an increase in revenues. Ad-based video on demand streaming service more than doubled during the first half of the year, in parallel with continued growth in revenue coming from subscriptions.
