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FINANCIAL NEWS
Saudi Mobily reports 11% increase in Q4 profit
20 Jan 2013
(MENAFN) Saudi telecom operator Etihad Etisalat (Mobily) reported an 11 percent increase in quarterly profit, Reuters reported.
The affiliate of UAE’s Etisalat, said it made USD500.8 million net profit during the fourth quarter 2012, up from USD451.91 million a year earlier.
The company also reported a 17 percent increase in quarterly revenue to USD1.8 billion, from USD1.54 billion a year ago.
Mobily said its full-212 profit grew by 18 percent to USD1.6 billion compared to USD1.35 billion in the same period in the previous year.
In late November, the Saudi telecom regulator suspended Mobily from selling pre-paid SIM cards for two weeks. At the time, Mobily said the financial impact of the suspension would be “insignificant”.
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