Mobily sees Q4 net profit grow 51% to SAR 778, beats estimates

January 30, 2009 at 16:34 Leave a comment

Mobily (Etihad Etisalat), Saudi Arabia’s second largest mobile operator by subscribers, reported a 51% increase in net profit year-on-year for the fourth quarter of 2008. Net profit for the three months to 31 December 2008 was SAR778 million (USD207.5 million), while net profit for the full year was SAR2.09 billion, up from SAR1.38 billion in 2007, on the back of ‘a rise in the number of subscribers, minutes of communications and an increase in demand for broadband services,’ it said. Emirates Telecommunications Corp (Etisalat) has a 26.25% stake in Mobily. 

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Entry filed under: Etisalat, Financial, Middle East, Mobily, Saudi Arabia. Tags: , , , .

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