Mobily sees 21% increase in Q1 profit

17 Apr 2012

Saudi Arabian wireless and fixed line operator Etihad Etisalat, which trades as Mobily, has announced a 21% jump in net profits for the first quarter to 31 March 2012. Q1 profit stood at SAR1.21 billion (USD321.8 million) this year, up from SAR998 million in 1Q2011, on the back of increased voice service revenues and business customer usage. Gross profits climbed from SAR2.29 billion to SAR2.61 billion, with revenues up 12% at SAR5.00 billion. ‘The increase in revenue is attributable to the higher revenue from voice services with the increase in the number of minutes of use, the continued increase in the number of post-paid subscribers and the increase in business sector revenue,’ the operator said in a statement issued to the Saudi bourse.

Saudi Arabia, Mobily (Etihad Etisalat)