Mobily improves

24 Apr 2007

Mobily, Saudi Arabia’s second largest cellular operator, has released its first-quarter financial results for the three months to 31 March, with revenues up 66% year-on-year to SAR1.88 billion (USD500 million). Operating profit jumped 183% to SAR371 million, while net income increased from SAR37 million in 1Q2006 to SAR251 million in the three months to the end of March this year. Mobily launched its first GSM services in mid-2005 and 3G services twelve months later; it had more than six million subscribers at the end of 2006, including over 500,000 3G and 3.5G users.

Saudi Arabia, Mobily (Etihad Etisalat)