Mobily 4Q net profit up 35% y-o-y

18 Jan 2010

Saudi Arabia’s second largest mobile operator by subscribers Mobily has posted net profit of SAR1.05 billion (USD279.25 million) for the three months ended 31 December 2009, up 35% year-on-year. Company CEO, Khaled al-Kaf, told Reuters that Mobily added 3.5 million mobile subscribers in 2009, ending the year with 18.2 million customers. Al-Kaf also pledged to continue the firm’s investment in mobile broadband in 2010, adding: ‘Mobily will continue its growth strategy; there is a high growth potential in the mobile broadband market.’ According to TeleGeography’s GlobalComms Database, Mobily began to trial Long Term Evolution (LTE) technology in April 2009, planning to commercially launch the standard in 2012. The company also offers WiMAX-based services via its subsidiary Bayanat Al-Oula, which has WiMAX networks in over 30 cities nationwide.

Saudi Arabia, Bayanat Al-Oula, Mobily (Etihad Etisalat)