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The Group delivered a near fivefold increase in net income to SAR 237.8 million in 1H 2024 driven by a solid top-line performance along with significant margin enhancements, particularly at SHAHID which saw AVOD revenue more than double during the period while subscription revenue continued its healthy growth; MBC continued to invest in quality content and engaging platforms to drive viewership and grow the subscriber base.
Riyadh, KSA: MBC GROUP (“MBC” or the “Company” or the “Group” | Tadawul: 4072), the leading media and entertainment conglomerate in the Middle East and North Africa (“MENA”) region, reported today its financial results for the first half ended 30 June 2024 (“1H 2024”). The Group recorded a net income of SAR 237.8 million in 1H 2024 – up a significant 359.8% year-on-year (“YoY”) with a net profit margin of 10.8% versus 2.6% in 1H 2023 on revenues of SAR 1,999.7 million during the same period, a 10% YoY increase.