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 (USD501 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.