Saudi Telecom posts 2004 profits of USD2.5 billion

10 Feb 2005

Saudi Telecom (STC) has posted net profits for 2004 of USD2.5 billion, up from USD2.2 billion in 2003. Operating income for the year stood at USD8.1 billion (USD7.4 billion). The telco said that the improved figures were mainly due to increasing subscriber numbers, and were in spite of tariff reductions imposed on the company’s fixed line and mobile services. STC also cited reduced operating expenses as a factor in the improved financials.

Saudi Arabia, Saudi Telecom Company (stc)