Riyadh - Mubasher: Arabian Contracting Services Company (Al Arabia) said the expected date for signing the licensing contract to install billboards on Egypt’s north coast would be at the end of the fourth quarter (Q4) of 2022 instead of 1 September.
Accordingly, the contract duration will start from the signing date for one year, renewable, according to a bourse filing on Sunday.
The contract, valued at SAR 9.26 million (EGP 46.79 million), has been awarded to Al Arabia through its arm, Arabiya United for Advertising Service. Under the deal, Al Arabia will exploit 17 sites to install 174 digital billboards on roads and bridges on the north coast.
The Tadawul-listed firm added it will announce any related developments in due course.
During the first half (H1) of 2022, Al Arabia achieved net profits after Zakat and tax worth SAR 127.68 million, an annual leap of 62.51% from SAR 78.56 million.
