Jeddah: Arabian Contracting Services expects spending on outdoor advertising in the Kingdom to reach approximately SR1.3 billion ($360 million) by 2025, according to Argaam. The company, which recently issued the prospectus for its planned IPO, announced an increase in its net profit of 68.6 percent — SR91.7 million — between the fiscal years 2018 and 2019. Its revenues increased by 23.3 percent from SR639.2 million in 2018 to SR787.5 million in 2019. The company attributed this growth to growing revenues from digital transformation in addition to the increase in the rate of advertising spend from some key customers, as well as the impact of Riyadh and Jeddah seasons. Arabian Contracting Services clarified the decrease in revenues in 2020, down SR289.9 from 2019 was due to the impact of the pandemic and the ensuing imposition of a curfew. As the Kingdom resumed its activities, revenues returned to a gradual improvement starting from the end of June 2020. “The company is keen to use the latest technologies in the outdoor advertising sector, where the company has imported the latest billboards from specialized international companies,” said the head of the company, Muhammad Al-khureigy.