The company generated SR91.5 million ($21.4 million) in profit for the first quarter as sales gained by more than a fifth to SR596.8 million RIYADH: The Saudi Research and Media Group (SRMG), the publisher of Arab News, said it appointed Abdulrahman Ibrahim Alrowaita as chairman and Majid Abdulrhman Alissa as vice-chairman. The company made the disclosure following its extraordinary general assembly meeting, in which board members were elected for a three-year term. Last week the media group reported a 41.4 percent increase in first quarter net profit. The company generated SR91.5 million ($21.4 million) in profit for the first quarter as sales gained by more than a fifth to SR596.8 million, the company said in a filing to the Tadawul stock exchange. SRMG also rebranded this month to become the Saudi Research and Media Group. It was previously known as The Saudi Research and Marketing Group.