Mobily Posts 11% Rise in Q4 Profits
Published on: 20th Jan 2013
Note -- this news article is more than a year old.
By: Ian Mansfield
Saudi Arabia's Etihad Etisalat (Mobily) has reported an 11 percent rise in its fourth quarter profits of SR1.9bn (US$501 million) beating most analysts expectations.
Revenue also rose, by 17 percent to SR6.77 billion, compared to SR5.80 billion a year earlier.
The company said that its revenues and profits were particularly boosted by a 41% increase mobile data usage, while the number of customers roaming on its network grew by a quarter thanks to the annual Hajj season.
For the full year, profits rose by 18% to SR6 billion.
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