Saudi Arabian operator Mobily has posted revenue of SAR6.77 billion (USD1.8 billion) for the fourth quarter of 2012, up 17% year-on-year and up 10% quarter-on-quarter. The company attributes the growth to a 41% rise in data revenues year-on-year. Data revenues comprised 27% of total revenues during 2012, up from 22% in 2011, while sales from its high speed fibre-optic and 4G services soared by more than 70% year-on-year. The increased turnover helped operating profits for the fourth quarter to grow by 8% year-on-year, reaching SAR1.902 billion, while net income gained 11% year-on-year to reach SAR1.878 billion.
Commenting on the results, Abdulaziz Saleh Alsaghyir, chairman of the Mobily board of directors, said that the telecoms market in Saudi Arabia remained attractive, and that the company is planning to spend more than SAR22 billion on network infrastructure during the next five years in order to maintain its leadership in the mobile broadband sector and also expand its fibre-optic network so that it reaches 500,000 residential units by the end of 2013.