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FINANCIAL NEWS
Mobily posts 49% hike in Q1 profit
21 Apr 2010
(MENAFN) Etihad Etisalat, also known as Mobily, registered $190 million of net profit in the first quarter, up 49 percent from the $127 million reported in the same period a year earlier.
Mobily’s quarterly revenue reached $955 million with an increase of 27percent when compared to a year earlier period. Operating profit reached $203.45 million with an 43 percent rise over the first quarter last year. Earnings per share (EPS) grew from $0.184 to $0.272.
The Saudi-based telecom firm said that its Earnings before interest, taxes, depreciation and amortization (EBITDA) margin, stood at 33 percent for the quarter, compared to 32 percent for the same quarter in 2009.
Mobily’s Chairman, Abdulaziz Al Saghyir, said that demand for wireless Internet services grows day by day, and Mobily plans to invest in this technology and take it to new levels to meet the needs of its customers.
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BBK partners with Four Seasons Private Residences Bahrain Bay to offer ownership financing for 112 waterfront homes.
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