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FINANCIAL NEWS
Saudi Mobily posts 33.5% rise in Q2 profits
14 Jul 2010
(MENAFN) Mobily, Saudi Arabia’s second-biggest telecom operator, posted a better-than-expected 33.5 percent rise in second-quarter net profit on higher broadband revenue and more post-paid voice customers, Reuters reported.
Mobily, also known as Etihad Etisalat, made $240 million in the three months to end-June, up from $180 million a year earlier, it said in a statement. It was Mobily�s highest quarterly net profit since it started as the Kingdom�s second mobile phone operator five years ago.
Emirates Telecommunications is Mobily�s biggest shareholder with a 27.4 percent stake
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