Mobily boosted by revenue growth

22 Apr 2009

Saudi Arabia’s second largest mobile operator by subscribers, Mobily (also known as Etihad Etisalat) has posted revenues of SAR2.81 billion (USD749.5 million) for the three months ended 31 March 2009, a 22% increase on the first quarter of 2008. The cellco reported a 47% year-on-year rise in net profit to SAR480 million. The company said the increase in revenues was a result of rising demand for mobile broadband services and the company’s growing wholesale business. Mobily spokesman Humoud al-Ghobaini said, ‘Usually, the first quarter is the weakest so we expect stronger results in the coming quarters of 2009.’

Saudi Arabia, Mobily (Etihad Etisalat)