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FINANCIAL NEWS
STC posts 6.7% Q2 profit
19 Jul 2012
(MENAFN) Saudi Telecom Co. (STC) announced that profit went up 6.7 percent during the second quarter to USD642 million, reported Arab News.
The top telecoms operator in the Gulf region attributed the increase in profit to a rise in its local broadband, business services and wholesales services sales, in addition to the growth in revenue from global operations.
STC also announced that second-quarter dividend will be USD0.13 per share.
It is worth noting that in 2011’s second quarter, STC’s net profit reached USD602 million.
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